Fidelis Insurance (NYSE:PLGO) Given New $23.00 Price Target at Barclays

Fidelis Insurance (NYSE:PLGO) had its price objective cut by investment analysts at Barclays from $24.00 to $23.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 0.47% from the company’s previous close.

PLGO has been the subject of several other reports. Keefe, Bruyette & Woods lifted their price objective on 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. increased their target price on shares of Fidelis Insurance from $23.00 to $26.00 and gave the stock an “underweight” rating in a report on Monday, July 20th. Wall Street Zen upgraded shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. UBS Group upped their price target on shares of Fidelis Insurance from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Citizens Jmp increased their price objective on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a “market outperform” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.20.

Fidelis Insurance Stock Performance

PLGO traded down $1.43 during trading on Thursday, hitting $22.89. 486,328 shares of the stock were exchanged, compared to its average volume of 417,814. The stock has a 50 day moving average price of $24.46. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 6.07 and a beta of 0.28. Fidelis Insurance has a 1 year low of $15.94 and a 1 year high of $26.34. 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 Tuesday, June 30th. The company reported $0.34 earnings per share for the quarter. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%.The business had revenue of $650.00 million during the quarter. As a group, equities analysts anticipate that Fidelis Insurance will post 3.8 earnings per share 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.