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

Fidelis Insurance (NYSE:PLGO) had its target price raised by Keefe, Bruyette & Woods from $28.00 to $29.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

PLGO has been the subject of several other reports. Wall Street Zen raised Fidelis Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings started coverage on Fidelis Insurance in a report on Wednesday, May 13th. They set a “buy (b)” rating for the company. Barclays increased their price target on Fidelis Insurance from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on Fidelis Insurance from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 26th. Finally, Zacks Research raised shares of Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Fidelis Insurance currently has an average rating of “Moderate Buy” and a consensus target price of $26.60.

Fidelis Insurance Stock Performance

Fidelis Insurance stock opened at $25.00 on Wednesday. Fidelis Insurance has a fifty-two week low of $14.80 and a fifty-two week high of $25.60. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 6.68 and a beta of 0.29. The firm has a fifty day moving average price of $23.34. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.70.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.19. The firm had revenue of $612.20 million for 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, sell-side analysts forecast that Fidelis Insurance will post 3.78 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.