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

by · The Cerbat Gem

Fidelis Insurance (NYSE:PLGO – Get Free Report) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $21.00 to $23.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 0.66% from the company’s current price.

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

Read Our Latest Stock Analysis on Fidelis Insurance

Fidelis Insurance Stock Up 0.3%

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

Fidelis Insurance (NYSE:PLGO – Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.19. Fidelis Insurance had a return on equity of 14.44% and a net margin of 15.33%.The business had revenue of $612.20 million during the quarter, compared to analyst estimates of $577.19 million. On average, equities analysts predict that Fidelis Insurance will post 3.19 EPS for the current fiscal year.

Fidelis Insurance Company Profile

(Get Free Report)

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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