Fidelis Insurance (NYSE:PLGO) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Fidelis Insurance (NYSE:PLGO) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

PLGO has been the topic of a number of other research reports. Barclays lifted their price target on Fidelis Insurance from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Wall Street Zen raised shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Keefe, Bruyette & Woods boosted their price target on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, July 20th. Finally, UBS Group raised their price objective on shares of Fidelis Insurance from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Fidelis Insurance currently has an average rating of “Hold” and a consensus target price of $27.20.

Fidelis Insurance Stock Performance

Fidelis Insurance stock opened at $25.95 on Monday. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 6.94 and a beta of 0.29. Fidelis Insurance has a 1 year low of $14.80 and a 1 year high of $26.34. The business has a 50 day simple moving average of $23.83. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.70.

Fidelis Insurance (NYSE:PLGO) last issued its earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.19. The business had revenue of $612.20 million for the quarter, compared to analysts’ expectations of $577.19 million. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%. As a group, equities analysts predict that Fidelis Insurance will post 3.8 EPS for the current fiscal 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.