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

Fidelis Insurance (NYSE:PLGO) had its target price upped by research analysts at Barclays from $21.00 to $22.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 5.27% from the stock’s previous close.

A number of other research firms have also issued reports on PLGO. Zacks Research lowered shares of Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Weiss Ratings began coverage on shares of Fidelis Insurance in a research report on Wednesday. They set a “buy (b)” rating for the company. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.00.

Fidelis Insurance Stock Performance

Shares of NYSE PLGO traded down $0.24 during mid-day trading on Friday, reaching $23.23. 143,327 shares of the company traded hands, compared to its average volume of 424,869. 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 has a fifty-two week low of $14.80 and a fifty-two 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.

Fidelis Insurance (NYSE:PLGO) last announced 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. Fidelis Insurance had a return on equity of 14.25% and a net margin of 15.33%.The firm had revenue of $612.20 million during the quarter, compared to analysts’ expectations of $577.19 million. As a group, equities research analysts expect that Fidelis Insurance will post 3.19 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.