Fidelis Insurance (NYSE:PLGO) Price Target Raised to $24.00

Fidelis Insurance (NYSE:PLGO) had its target price boosted by equities research analysts at Barclays from $22.00 to $24.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential downside of 2.44% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Zacks Research upgraded shares of Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. boosted their price target on Fidelis Insurance from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Tuesday, May 26th. Weiss Ratings initiated coverage on shares of Fidelis Insurance in a research note on Wednesday, May 13th. They issued a “buy (b)” rating on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Fidelis Insurance from $26.50 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Fidelis Insurance Stock Down 0.1%

PLGO stock traded down $0.03 during midday trading on Tuesday, reaching $24.60. The company had a trading volume of 107,498 shares, compared to its average volume of 437,977. 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 market cap of $2.12 billion, a PE ratio of 6.58 and a beta of 0.29.

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 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 for the quarter, compared to the consensus estimate of $577.19 million. Sell-side analysts anticipate 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.