JPMorgan Chase & Co. Issues Positive Forecast for Fidelis Insurance (NYSE:PLGO) Stock Price

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

Several other research firms have also issued reports on PLGO. Barclays upped their target price on Fidelis Insurance from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Zacks Research raised Fidelis Insurance from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, May 28th. Keefe, Bruyette & Woods upped their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. UBS Group increased their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One investment 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.20.

Fidelis Insurance Trading Up 0.7%

Shares of PLGO stock opened at $25.58 on Monday. The company has a fifty day simple moving average of $23.58. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. Fidelis Insurance has a 1 year low of $14.80 and a 1 year high of $26.18. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 6.84 and a beta of 0.29.

Fidelis Insurance (NYSE:PLGO) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.19. The company had revenue of $612.20 million during the quarter, compared to the consensus estimate of $577.19 million. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. As a group, equities research analysts forecast 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.