Fidelis Insurance (NYSE:PLGO) Stock Rating Lowered by Wall Street Zen

Fidelis Insurance (NYSE:PLGO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Fidelis Insurance from a “hold” rating to a “strong sell” rating in a report on Friday, October 9th. Barclays decreased their target price on shares of Fidelis Insurance from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, August 13th. Keefe, Bruyette & Woods lowered their price target on shares of Fidelis Insurance from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, August 14th. UBS Group increased their price target on Fidelis Insurance from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Fidelis Insurance in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.00.

Fidelis Insurance Trading Down 1.2%

Shares of NYSE:PLGO opened at $25.06 on Friday. Fidelis Insurance has a twelve month low of $17.74 and a twelve month high of $26.34. The stock has a 50 day simple moving average of $24.33. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.16 billion, a P/E ratio of 7.08 and a beta of 0.28.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.34 earnings per share (EPS) for the quarter. Fidelis Insurance had a net margin of 15.94% and a return on equity of 15.26%. The company had revenue of $650.00 million during the quarter. Equities research analysts predict that Fidelis Insurance will post 3.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fidelis Insurance

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in Fidelis Insurance during the second quarter worth $47,000. State of Alaska Department of Revenue acquired a new stake in Fidelis Insurance during the third quarter valued at $77,000. Integrated Wealth Concepts LLC acquired a new stake in Fidelis Insurance during the second quarter valued at $91,000. The Manufacturers Life Insurance Company purchased a new position in Fidelis Insurance in the second quarter valued at $258,000. Finally, Susquehanna International Group LLP purchased a new position in Fidelis Insurance in the second quarter valued at $388,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited is a specialty insurance and reinsurance company headquartered in Bermuda. The company provides customized coverage for complex and hard-to-place risks, serving commercial clients, brokers and other insurance partners through a combination of underwriting and reinsurance operations.

Its product offerings include property, casualty, marine, energy, aviation, cyber, political violence and financial lines insurance, along with other specialty commercial coverages.