Citizens Jmp Forecasts Strong Price Appreciation for Fidelis Insurance (NYSE:PLGO) Stock

Fidelis Insurance (NYSE:PLGO) had its price objective upped by equities research analysts at Citizens Jmp from $28.00 to $29.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s target price would suggest a potential upside of 29.44% from the company’s previous close.

Several other equities research analysts have also weighed in on PLGO. Keefe, Bruyette & Woods increased their target price on shares of Fidelis Insurance from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. boosted their price target on shares of Fidelis Insurance from $23.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, July 20th. Barclays raised their price objective on Fidelis Insurance from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Zacks Research lowered Fidelis Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Fidelis Insurance in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.40.

Fidelis Insurance Trading Down 7.9%

Shares of PLGO stock traded down $1.92 on Thursday, reaching $22.41. The company had a trading volume of 318,037 shares, compared to its average volume of 416,084. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.93 billion, a PE ratio of 5.99 and a beta of 0.28. The stock’s 50-day simple moving average is $24.46. Fidelis Insurance has a 12 month low of $15.94 and a 12 month high of $26.34.

Fidelis Insurance (NYSE:PLGO) last released its quarterly earnings data on Tuesday, June 30th. The company reported $0.34 earnings per share for the quarter. The business had revenue of $650.00 million for the quarter. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. Sell-side analysts anticipate that Fidelis Insurance will post 3.8 earnings per share for the current 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.