State of Wisconsin Investment Board Has $3,527,000 Position in Fidelity & Guaranty Life (FGL)
State of Wisconsin Investment Board maintained its position in Fidelity & Guaranty Life (NYSE:FGL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,075 shares of the company’s stock at the end of the third quarter. State of Wisconsin Investment Board owned approximately 0.26% of Fidelity & Guaranty Life worth $3,527,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FGL. Emerald Acquisition Ltd. purchased a new position in Fidelity & Guaranty Life during the second quarter worth approximately $1,974,000. Nordea Investment Management AB purchased a new position in Fidelity & Guaranty Life during the second quarter worth approximately $487,000. Kassirer Asset Management Corp boosted its position in Fidelity & Guaranty Life by 114.8% in the second quarter. Kassirer Asset Management Corp now owns 163,166 shares of the company’s stock worth $3,782,000 after buying an additional 87,208 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in Fidelity & Guaranty Life during the second quarter worth approximately $922,000. Finally, Bank of New York Mellon Corp boosted its position in Fidelity & Guaranty Life by 40.8% in the second quarter. Bank of New York Mellon Corp now owns 141,107 shares of the company’s stock worth $3,271,000 after buying an additional 40,910 shares in the last quarter. 22.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fidelity & Guaranty Life (NYSE:FGL) traded down 0.21% on Tuesday, hitting $23.60. The stock had a trading volume of 111,424 shares. The company has a 50 day moving average price of $22.97 and a 200-day moving average price of $23.11. The stock has a market cap of $1.39 billion, a PE ratio of 14.22 and a beta of 0.81. Fidelity & Guaranty Life has a 12 month low of $21.10 and a 12 month high of $26.55.
Fidelity & Guaranty Life (NYSE:FGL) last issued its quarterly earnings data on Wednesday, November 16th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. Fidelity & Guaranty Life had a net margin of 8.52% and a return on equity of 10.36%. The firm earned $316 million during the quarter, compared to the consensus estimate of $267.80 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 110.7% compared to the same quarter last year. On average, equities research analysts anticipate that Fidelity & Guaranty Life will post $2.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders 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 dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, November 23rd. Fidelity & Guaranty Life’s payout ratio is 15.66%.
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Separately, JPMorgan Chase & Co. reissued a “hold” rating and issued a $26.00 target price on shares of Fidelity & Guaranty Life in a research note on Thursday, November 17th.
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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