Fidelis Insurance (NYSE:PLGO) Sets New 12-Month High – Still a Buy?

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

Wall Street Analysts Forecast Growth

PLGO has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Fidelis Insurance from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Wall Street Zen raised Fidelis Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Keefe, Bruyette & Woods increased their target price on Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Weiss Ratings initiated coverage on Fidelis Insurance in a research note on Wednesday, May 13th. They issued a “buy (b)” rating for the company. Finally, Zacks Research upgraded shares of Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.33.

Fidelis Insurance Stock Performance

The company has a market cap of $2.19 billion, a PE ratio of 6.78 and a beta of 0.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

Fidelis Insurance (NYSE:PLGO) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.19. The firm had revenue of $612.20 million during the quarter, compared to analyst estimates of $577.19 million. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%. Analysts forecast that Fidelis Insurance Holdings Limited will post 3.78 EPS 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.