Fidelis Insurance (NYSE:PLGO) Price Target Raised to $29.00

Fidelis Insurance (NYSE:PLGO) had its price target increased by UBS Group from $28.00 to $29.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

PLGO has been the subject of several other reports. Weiss Ratings started coverage on shares of Fidelis Insurance in a research note on Wednesday, May 13th. They set a “buy (b)” rating for the company. Wall Street Zen raised shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Barclays lifted their target price on shares of Fidelis Insurance from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of Fidelis Insurance from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on Fidelis Insurance from $21.00 to $23.00 and gave the company an “underweight” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Fidelis Insurance currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.60.

Fidelis Insurance Price Performance

NYSE PLGO opened at $25.00 on Wednesday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 6.68 and a beta of 0.29. Fidelis Insurance has a 1-year low of $14.80 and a 1-year high of $25.60. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $23.34.

Fidelis Insurance (NYSE:PLGO) last posted 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 net margin of 15.33% and a return on equity of 14.44%. The firm had revenue of $612.20 million during the quarter, compared to the consensus estimate of $577.19 million. On average, equities research analysts expect that Fidelis Insurance will post 3.78 EPS 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.