Fidelis Insurance (NYSE:PLGO) Given New $28.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods lowered Fidelis Insurance’s price target from $29 to $28 while maintaining an “outperform” rating, implying 23.07% upside from the previous close.
• Analyst sentiment is mixed: four analysts rate the stock a Buy, two a Hold, and one a Sell, resulting in a consensus “Hold” rating and an average price target of $27.
• Fidelis shares opened at $22.75, compared with a 52-week range of $15.94 to $26.34. The company recently reported quarterly EPS of $0.34 on $650 million in revenue.

Fidelis Insurance (NYSE:PLGO - Get Free Report) had its price objective decreased by Keefe, Bruyette & Woods from $29.00 to $28.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 23.07% from the company's previous close.

A number of other research analysts have also issued reports on the company. UBS Group boosted their target price on Fidelis Insurance from $28.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Citizens Jmp lifted their price objective on shares of Fidelis Insurance from $28.00 to $29.00 and gave the company a "market outperform" rating in a research report on Thursday. Weiss Ratings restated a "buy (b)" rating on shares of Fidelis Insurance in a research report on Friday, August 7th. Barclays reduced their target price on shares of Fidelis Insurance from $24.00 to $23.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price 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. Four 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 stock has a consensus rating of "Hold" and an average price target of $27.00.

Fidelis Insurance Stock Performance

Shares of NYSE:PLGO opened at $22.75 on Friday. Fidelis Insurance has a one year low of $15.94 and a one year high of $26.34. The stock has a market capitalization of $1.96 billion, a PE ratio of 5.58 and a beta of 0.28. The company has a 50-day simple moving average of $24.48. 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 (NYSE:PLGO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.34 earnings per share (EPS) for the quarter. The firm had revenue of $650.00 million for the quarter. Fidelis Insurance had a return on equity of 15.03% and a net margin of 15.94%. As a group, research analysts forecast that Fidelis Insurance will post 3.8 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.

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