Fidelis Insurance (NYSE:PLGO) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Fidelis Insurance from “Buy” to “Hold.” The broader analyst consensus is also “Hold,” with a consensus price target of $27.00.
• Analysts delivered mixed updates: Barclays and Keefe, Bruyette & Woods lowered their price targets, while Citizens JMP and JPMorgan raised theirs. Ratings include four Buys, two Holds, and one Sell.
• Fidelis reported quarterly EPS of $0.34 on $650 million in revenue, with a 15.26% return on equity and a 15.94% net margin. The stock was recently up 4.6% and opened at $23.80.

Fidelis Insurance (NYSE:PLGO - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also recently issued research reports about the company. Barclays reduced their target price on Fidelis Insurance from $24.00 to $23.00 and set an "equal weight" rating on the stock in a report on Thursday. Keefe, Bruyette & Woods lowered their price target on Fidelis Insurance from $29.00 to $28.00 and set an "outperform" rating for the company in a research note on Friday. Citizens Jmp increased their price target on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a "market outperform" rating in a research report on Thursday. Weiss Ratings reissued a "buy (b)" rating on shares of Fidelis Insurance in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fidelis Insurance from $23.00 to $26.00 and gave the company an "underweight" rating in a report on Monday, July 20th. Four research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $27.00.

Fidelis Insurance Stock Up 4.6%

PLGO stock opened at $23.80 on Friday. The company has a fifty day moving average of $24.52. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 0.65. The firm has a market cap of $2.05 billion, a P/E ratio of 5.83 and a beta of 0.28. Fidelis Insurance has a twelve month low of $15.94 and a twelve month high of $26.34.

Fidelis Insurance (NYSE:PLGO - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 EPS for the quarter. The business had revenue of $650.00 million during the quarter. Fidelis Insurance had a return on equity of 15.26% and a net margin of 15.94%. Research analysts anticipate that Fidelis Insurance will post 3.8 earnings per share for the current fiscal 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.

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