UBS Group Forecasts Strong Price Appreciation for Fidelis Insurance (NYSE:PLGO) Stock

Fidelis Insurance (NYSE:PLGO) had its price objective lifted by equities researchers at UBS Group from $28.00 to $29.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 16.94% from the company’s previous close.

PLGO has been the subject of several other research reports. Weiss Ratings assumed coverage on Fidelis Insurance in a report on Wednesday, May 13th. They set a “buy (b)” rating for the company. Barclays boosted their price target 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 note on Wednesday. Wall Street Zen upgraded shares of Fidelis Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Fidelis Insurance from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Fidelis Insurance has an average rating of “Moderate Buy” and a consensus price target of $26.25.

Fidelis Insurance Trading Up 1.3%

Shares of Fidelis Insurance stock traded up $0.32 on Wednesday, hitting $24.80. 148,940 shares of the company traded hands, compared to its average volume of 438,005. The stock has a market cap of $2.14 billion, a P/E ratio of 6.63 and a beta of 0.29. Fidelis Insurance has a 52 week low of $14.80 and a 52 week high of $25.60. 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) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.75 by $0.19. Fidelis Insurance had a net margin of 15.33% and a return on equity of 14.44%. The business had revenue of $612.20 million during the quarter, compared to the consensus estimate of $577.19 million. On average, equities analysts predict that Fidelis Insurance will post 3.78 earnings per share 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.