Fidelis Insurance (NYSE:PLGO) Price Target Raised to $26.00

Fidelis Insurance (NYSE:PLGO) had its target price increased by JPMorgan Chase & Co. from $23.00 to $26.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Other research analysts have also issued reports about the company. UBS Group lifted their target price on Fidelis Insurance from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings assumed coverage on Fidelis Insurance in a report on Wednesday, May 13th. They issued a “buy (b)” rating for the company. Barclays raised their price target on Fidelis Insurance from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Zacks Research upgraded Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fidelis Insurance presently has a consensus rating of “Moderate Buy” and an average price target of $27.20.

Fidelis Insurance Stock Performance

PLGO opened at $25.18 on Monday. The stock has a fifty day moving average price of $23.65. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 6.73 and a beta of 0.29. Fidelis Insurance has a twelve month low of $14.80 and a twelve month high of $26.18.

Fidelis Insurance (NYSE:PLGO) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.19. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. The company had revenue of $612.20 million during the quarter, compared to analyst estimates of $577.19 million. Equities analysts forecast that Fidelis Insurance will post 3.8 EPS 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.