Fidelis Insurance (NYSE:PLGO) Hits New 52-Week High – Should You Buy?

Shares of Fidelis Insurance Holdings Limited (NYSE:PLGO) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $26.02 and last traded at $25.8440, with a volume of 29842 shares traded. The stock had previously closed at $25.44.

Analysts Set New Price Targets

A number of brokerages have weighed in on PLGO. UBS Group boosted their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods raised their price target on Fidelis Insurance from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Zacks Research raised Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. upped their price objective on Fidelis Insurance from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.60.

Fidelis Insurance Price Performance

The business has a 50-day moving average of $23.50. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 6.89 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 issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.19. The firm had revenue of $612.20 million during the quarter, compared to the consensus estimate of $577.19 million. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. Analysts predict that Fidelis Insurance Holdings Limited will post 3.78 earnings per share for the current 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.