Fidelis Insurance (NYSE:PLGO) Hits New 1-Year High – Still a Buy?

Fidelis Insurance Holdings Limited (NYSE:PLGO)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $25.60 and last traded at $25.3410, with a volume of 332 shares changing hands. The stock had previously closed at $25.56.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings initiated coverage on shares of Fidelis Insurance in a research note on Wednesday, May 13th. They set a “buy (b)” rating on the stock. Barclays increased their price target on shares of Fidelis Insurance from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their price objective on shares of Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Wall Street Zen upgraded Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. increased their target price on Fidelis Insurance from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Fidelis Insurance currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Fidelis Insurance Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 6.55 and a beta of 0.29.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.75 by $0.19. The business had revenue of $612.20 million for the quarter, compared to analyst estimates of $577.19 million. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. As a group, research analysts anticipate that Fidelis Insurance Holdings Limited will post 3.78 earnings per share for the current fiscal year.

About Fidelis Insurance

Fidelis is a leading global provider of bespoke and specialty insurance and reinsurance products. We believe our differentiated underwriting positions us well to generate strong returns across (re)insurance cycles. Current Fidelis is led by Mr. Daniel Burrows who has more than 35 years of experience in the insurance industry and is supported by a highly experienced management team that manages the operations of Current Fidelis based on our founding principles. Following the Separation Transactions, Current Fidelis is positioned as a global, specialty insurance provider with exclusive right of first access to Fidelis MGU’s underwriting business during the term of the Framework Agreement.