UBS Group Boosts Fidelis Insurance (NYSE:PLGO) Price Target to $29.00

Fidelis Insurance (NYSE:PLGO) had its price objective lifted by equities research analysts at UBS Group from $28.00 to $29.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 16.94% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings initiated coverage on shares of Fidelis Insurance in a report on Wednesday, May 13th. They issued a “buy (b)” rating on the stock. Barclays boosted their target price on Fidelis Insurance from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Zacks Research raised Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, May 28th. Wall Street Zen raised Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Fidelis Insurance presently has an average rating of “Moderate Buy” and a consensus target price of $26.25.

Fidelis Insurance Stock Performance

Fidelis Insurance stock traded up $0.32 during mid-day trading on Wednesday, reaching $24.80. 148,940 shares of the company’s stock were exchanged, compared to its average volume of 438,005. Fidelis Insurance has a one year low of $14.80 and a one year high of $25.60. The firm has a market capitalization of $2.14 billion, a P/E ratio of 6.63 and a beta of 0.29. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37.

Fidelis Insurance (NYSE:PLGO) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.19. The company had revenue of $612.20 million during the quarter, compared to analyst estimates of $577.19 million. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. As a group, analysts anticipate that Fidelis Insurance will post 3.78 EPS for the current 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.