Fidelis Insurance (NYSE:PLGO) Price Target Raised to $22.00 at Barclays

Fidelis Insurance (NYSE:PLGO) had its price target increased by Barclays from $21.00 to $22.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also recently issued research reports about the stock. Weiss Ratings began coverage on shares of Fidelis Insurance in a research note on Wednesday. They issued a “buy (b)” rating for the company. Zacks Research cut shares of Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.00.

Fidelis Insurance Price Performance

Fidelis Insurance stock opened at $23.15 on Friday. Fidelis Insurance has a 1-year low of $14.80 and a 1-year high of $23.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market capitalization of $2.00 billion, a PE ratio of 6.19 and a beta of 0.36.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.19. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.25%. The business had revenue of $612.20 million during the quarter, compared to analysts’ expectations of $577.19 million. Equities analysts forecast that Fidelis Insurance will post 3.19 EPS for the current year.

Fidelis Insurance Company Profile

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.