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

Fidelis Insurance (NYSE:PLGO) had its price target increased by equities researchers at JPMorgan Chase & Co. from $21.00 to $23.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 0.66% from the company’s previous close.

Other analysts also recently issued research reports about the company. Weiss Ratings initiated coverage on Fidelis Insurance in a research report on Wednesday, May 13th. They issued a “buy (b)” rating for the company. Keefe, Bruyette & Woods boosted their price objective on Fidelis Insurance from $26.50 to $28.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Fidelis Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Barclays boosted their target price on Fidelis Insurance from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 15th. Finally, Zacks Research cut Fidelis Insurance from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.33.

Fidelis Insurance Stock Performance

PLGO stock traded up $0.06 during midday trading on Tuesday, hitting $22.85. The company had a trading volume of 318,164 shares, compared to its average volume of 432,859. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 0.70. Fidelis Insurance has a 52 week low of $14.80 and a 52 week high of $24.06. The company has a market capitalization of $1.97 billion, a P/E ratio of 6.11 and a beta of 0.36.

Fidelis Insurance (NYSE:PLGO) last announced its quarterly earnings data 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 firm had revenue of $612.20 million during the quarter, compared to the consensus estimate of $577.19 million. Analysts expect that Fidelis Insurance will post 3.19 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.