Fidelis Insurance (NYSE:PLGO) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Fidelis Insurance (NYSE:PLGO) had its target price raised by equities researchers at JPMorgan Chase & Co. from $23.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.64% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. UBS Group lifted their target price on Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Weiss Ratings initiated coverage on shares of Fidelis Insurance in a research report on Wednesday, May 13th. They issued a “buy (b)” rating for the company. Wall Street Zen upgraded shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Zacks Research raised shares of Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, May 28th. Finally, Barclays upped their price objective on shares of Fidelis Insurance from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.20.

Fidelis Insurance Stock Performance

Shares of PLGO stock opened at $25.58 on Monday. The stock has a market capitalization of $2.21 billion, a P/E ratio of 6.84 and a beta of 0.29. Fidelis Insurance has a 1-year low of $14.80 and a 1-year high of $26.18. 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’s fifty day simple moving average is $23.62.

Fidelis Insurance (NYSE:PLGO) last announced its quarterly earnings data 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. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%.The firm had revenue of $612.20 million during the quarter, compared to the consensus estimate of $577.19 million. On average, sell-side analysts predict that Fidelis Insurance will post 3.78 EPS for the current 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.