Fidelis Insurance (NYSE:PLGO) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Fidelis Insurance from “hold” to “buy,” though analyst views remain mixed: MarketBeat reports an overall “hold” consensus and a $27.80 average price target.
• Fidelis reported quarterly EPS of $1.00, beating the $0.79 consensus, on revenue of $800.9 million.
• The article’s ticker appears inconsistent: it labels the stock PLGO, but its company profile identifies Fidelis Insurance’s NYSE ticker as FIHL.

Fidelis Insurance (NYSE:PLGO - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on PLGO. Zacks Research cut Fidelis Insurance from a "hold" rating to a "strong sell" rating in a research report on Friday, October 9th. JPMorgan Chase & Co. increased their price objective on Fidelis Insurance from $23.00 to $26.00 and gave the stock an "underweight" rating in a report on Monday, July 20th. Citizens Jmp raised their target price on Fidelis Insurance from $28.00 to $29.00 and gave the stock a "market outperform" rating in a research note on Thursday, August 13th. Barclays cut their target price on Fidelis Insurance from $24.00 to $23.00 and set an "equal weight" rating for the company in a research note on Thursday, August 13th. Finally, Keefe, Bruyette & Woods lifted their target price on Fidelis Insurance from $28.00 to $32.00 and gave the company an "outperform" rating in a report on Friday. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Fidelis Insurance presently has an average rating of "Hold" and a consensus price target of $27.80.

Fidelis Insurance Trading Down 0.0%

PLGO opened at $28.82 on Friday. The business has a 50 day simple moving average of $25.33. The company has a market cap of $2.49 billion, a P/E ratio of 8.55 and a beta of 0.24. Fidelis Insurance has a 12 month low of $17.87 and a 12 month high of $29.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.65 and a current ratio of 0.65.

Fidelis Insurance (NYSE:PLGO - Get Free Report) last issued its earnings results on Wednesday, November 11th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.21. Fidelis Insurance had a net margin of 12.47% and a return on equity of 13.56%. The business had revenue of $800.90 million for the quarter. Research analysts forecast that Fidelis Insurance will post 3.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fidelis Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC bought a new position in shares of Fidelis Insurance in the 3rd quarter worth $10,692,000. First Trust Advisors LP raised its position in shares of Fidelis Insurance by 19.5% during the 3rd quarter. First Trust Advisors LP now owns 16,065 shares of the company's stock valued at $380,000 after buying an additional 2,617 shares in the last quarter. State Street Corp lifted its holdings in shares of Fidelis Insurance by 2.3% during the 3rd quarter. State Street Corp now owns 843,910 shares of the company's stock worth $19,967,000 after acquiring an additional 19,222 shares during the last quarter. Joel Isaacson & Co. LLC bought a new stake in shares of Fidelis Insurance during the 3rd quarter worth $461,000. Finally, CenterBook Partners LP lifted its holdings in shares of Fidelis Insurance by 25.3% during the 3rd quarter. CenterBook Partners LP now owns 19,504 shares of the company's stock worth $461,000 after acquiring an additional 3,934 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Fidelis Insurance Company Profile

Fidelis Insurance Holdings Limited is a specialty insurer and reinsurer focused on providing coverage for complex and less commonly insured risks. Its products span areas such as property, marine, aviation, energy, and other specialty lines, serving businesses and clients in markets around the world. Founded in 2015, the company is headquartered in Bermuda and operates internationally. Fidelis Insurance Holdings is listed on the New York Stock Exchange under the symbol FIHL; PLGO does not appear to be its ticker symbol.

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