Fidelity & Guaranty Life (FGL) Given Hold Rating at JPMorgan Chase & Co.
JPMorgan Chase & Co. restated their hold rating on shares of Fidelity & Guaranty Life (NYSE:FGL) in a research note issued to investors on Thursday morning. The brokerage currently has a $26.00 target price on the stock.
Fidelity & Guaranty Life (NYSE:FGL) traded down 1.771% during midday trading on Thursday, hitting $23.575. The stock had a trading volume of 62,859 shares. Fidelity & Guaranty Life has a 52-week low of $21.10 and a 52-week high of $26.55. The company’s 50 day moving average price is $22.90 and its 200-day moving average price is $23.26. The stock has a market cap of $1.38 billion, a PE ratio of 14.288 and a beta of 0.81.
Fidelity & Guaranty Life (NYSE:FGL) last posted its quarterly earnings data on Wednesday, November 16th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.09. Fidelity & Guaranty Life had a return on equity of 10.36% and a net margin of 8.52%. The company earned $316 million during the quarter, compared to analysts’ expectations of $267.80 million. During the same quarter in the previous year, the business earned $0.72 EPS. Fidelity & Guaranty Life’s revenue was up 110.7% compared to the same quarter last year. Analysts forecast that Fidelity & Guaranty Life will post $2.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, November 28th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, November 23rd. Fidelity & Guaranty Life’s dividend payout ratio (DPR) is presently 15.66%.
A number of large investors have recently modified their holdings of the stock. Credit Suisse AG raised its stake in shares of 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. raised its position 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 valued at $1,216,000 after buying an additional 3,228 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Fidelity & Guaranty Life during the third quarter valued at approximately $219,000. UBS Oconnor LLC raised its position in Fidelity & Guaranty Life by 6.8% in the third quarter. UBS Oconnor LLC now owns 186,866 shares of the company’s stock valued at $4,333,000 after buying an additional 11,866 shares during the last quarter. Finally, Omega Advisors Inc. bought a new position in Fidelity & Guaranty Life during the third quarter valued at approximately $1,728,000. 23.84% of the stock is owned by institutional investors and hedge funds.
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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