Citizens Jmp Increases Fidelis Insurance (NYSE:PLGO) Price Target to $28.00

Key Points

• Citizens Jmp raised Fidelis Insurance’s price target to $28 from $27 and kept a market outperform rating, implying about 11.5% upside from the prior close.
• Several other analysts also turned more positive, including UBS and Keefe, Bruyette & Woods lifting targets to $29, while consensus on the stock remains a Moderate Buy with a target of $26.60.
• Fidelis recently posted strong quarterly results, beating EPS and revenue estimates, and the stock has been trading near its 52-week high after opening at $25.11.

Fidelis Insurance (NYSE:PLGO - Get Free Report) had its price target raised by equities research analysts at Citizens Jmp from $27.00 to $28.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. Citizens Jmp's target price indicates a potential upside of 11.53% from the company's previous close.

Several other equities analysts have also commented on the company. UBS Group increased their price objective on Fidelis Insurance from $28.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays lifted their target price on shares of Fidelis Insurance from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Wednesday. Weiss Ratings started coverage on Fidelis Insurance in a report on Wednesday, May 13th. They issued a "buy (b)" rating on the stock. Finally, Zacks Research raised Fidelis Insurance from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, May 28th. One equities 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 given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.60.

Fidelis Insurance Stock Performance

PLGO stock opened at $25.11 on Friday. The business's fifty day moving average price is $23.29. Fidelis Insurance has a fifty-two week low of $14.80 and a fifty-two week high of $25.60. The company has a market cap of $2.17 billion, a P/E ratio of 6.78 and a beta of 0.29. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share for the quarter, beating 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 company had revenue of $612.20 million during the quarter, compared to analysts' expectations of $577.19 million. Equities 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.