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

Fidelis Insurance (NYSE:PLGO – Get Free Report) had its target price lifted by research analysts at Barclays from $21.00 to $22.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential downside of 5.27% from the company’s previous close.

Several other analysts have also commented on PLGO. Weiss Ratings initiated coverage on Fidelis Insurance in a report on Wednesday. They set a “buy (b)” rating for the company. Zacks Research lowered Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fidelis Insurance currently has a consensus rating of “Hold” and a consensus price target of $22.00.

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Fidelis Insurance Stock Performance

Shares of PLGO stock traded down $0.24 during mid-day trading on Friday, hitting $23.23. 143,327 shares of the stock traded hands, compared to its average volume of 424,869. Fidelis Insurance has a 52-week low of $14.80 and a 52-week high of $23.60. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 6.21 and a beta of 0.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 0.74.

Fidelis Insurance (NYSE:PLGO – Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, topping 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 firm had revenue of $612.20 million during the quarter, compared to analyst estimates of $577.19 million. On average, equities analysts forecast that Fidelis Insurance will post 3.19 EPS for the current fiscal year.

About Fidelis Insurance

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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.

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