Bank of New York Mellon Corp lowered its stake in shares of Fidelity and Guaranty Life (NYSE:FGL) by 14.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,880 shares of the financial services provider’s stock after selling 25,357 shares during the quarter. Bank of New York Mellon Corp owned about 0.26% of Fidelity and Guaranty Life worth $4,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. American International Group Inc. boosted its position in Fidelity and Guaranty Life by 7.1% during the first quarter. American International Group Inc. now owns 7,331 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 484 shares in the last quarter. Virtu Financial LLC bought a new stake in Fidelity and Guaranty Life during the second quarter valued at about $390,000. Karp Capital Management Corp bought a new stake in Fidelity and Guaranty Life during the first quarter valued at about $446,000. Menta Capital LLC bought a new stake in Fidelity and Guaranty Life during the first quarter valued at about $594,000. Finally, Aperio Group LLC boosted its position in Fidelity and Guaranty Life by 41.5% during the second quarter. Aperio Group LLC now owns 22,693 shares of the financial services provider’s stock valued at $705,000 after purchasing an additional 6,652 shares in the last quarter. 23.44% of the stock is currently owned by institutional investors.

Shares of Fidelity and Guaranty Life (FGL) opened at 31.00 on Friday. The stock has a market capitalization of $1.81 billion, a PE ratio of 9.42 and a beta of 0.89. Fidelity and Guaranty Life has a 1-year low of $21.10 and a 1-year high of $31.38. The firm has a 50-day moving average price of $31.14 and a 200-day moving average price of $30.04.

Fidelity and Guaranty Life (NYSE:FGL) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. The business had revenue of $380.00 million during the quarter, compared to analysts’ expectations of $308.00 million. Fidelity and Guaranty Life had a return on equity of 8.00% and a net margin of 13.61%. The business’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. On average, equities research analysts forecast that Fidelity and Guaranty Life will post $2.65 earnings per share for the current year.

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A number of equities research analysts have commented on the company. BidaskClub cut Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. ValuEngine upgraded Fidelity and Guaranty Life from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th.

About Fidelity and Guaranty Life

Fidelity & Guaranty Life (FGL) is a holding company focused on obtaining controlling equity stakes in companies that operate across various industries. FGL’s primary business is the sale of individual life insurance products and annuities through independent agents, managing general agents, and specialty brokerage firms and in selected institutional markets.

Institutional Ownership by Quarter for Fidelity and Guaranty Life (NYSE:FGL)

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