Fidelity & Guaranty Life (FGL) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Fidelity & Guaranty Life (NYSE:FGL) issued its earnings results on Wednesday. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.09. Fidelity & Guaranty Life had a net margin of 9.97% and a return on equity of 10.59%. The company had revenue of $316 million for the quarter, compared to the consensus estimate of $267.80 million. During the same quarter in the previous year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 110.7% compared to the same quarter last year.
Shares of Fidelity & Guaranty Life (NYSE:FGL) opened at 23.65 on Thursday. Fidelity & Guaranty Life has a 52 week low of $21.10 and a 52 week high of $26.55. The firm has a market cap of $1.38 billion, a P/E ratio of 14.33 and a beta of 0.81. The stock has a 50 day moving average of $22.87 and a 200 day moving average of $23.25.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Monday, November 28th will be paid a $0.065 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.26 annualized dividend and a dividend yield of 1.10%. Fidelity & Guaranty Life’s dividend payout ratio is presently 15.76%.
Large investors have recently bought and sold shares of the stock. Credit Suisse AG boosted its stake in Fidelity & Guaranty Life by 49.8% in the third quarter. Credit Suisse AG now owns 41,276 shares of the company’s stock worth $957,000 after buying an additional 13,721 shares during the period. Panagora Asset Management Inc. boosted its stake in Fidelity & Guaranty Life by 6.6% in the third quarter. Panagora Asset Management Inc. now owns 52,432 shares of the company’s stock worth $1,216,000 after buying an additional 3,228 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Fidelity & Guaranty Life during the third quarter worth $219,000. Northern Trust Corp boosted its stake in Fidelity & Guaranty Life by 0.8% in the third quarter. Northern Trust Corp now owns 125,109 shares of the company’s stock worth $2,902,000 after buying an additional 1,016 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Fidelity & Guaranty Life by 0.4% in the third quarter. California State Teachers Retirement System now owns 25,074 shares of the company’s stock worth $581,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 23.84% of the company’s stock.
Fidelity & Guaranty Life Company Profile
Fidelity & Guaranty Life, formerly Harbinger F&G, LLC, is a holding company. The Company’s primary business is the sale of individual life insurance products and annuities through independent agents, managing general agents and brokerage firms in selected institutional markets. Its product types include fixed indexed annuities, fixed rate annuities, single premium immediate annuities (SPIAs) and life insurance, such as Universal Life and traditional life insurance products.
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