Fidelity and Guaranty Life (FGL) Rating Increased to Strong-Buy at ValuEngine
ValuEngine upgraded shares of Fidelity and Guaranty Life (NYSE:FGL) from a buy rating to a strong-buy rating in a report issued on Tuesday morning.
A number of other brokerages have also commented on FGL. Sandler O’Neill lowered shares of Fidelity and Guaranty Life from a buy rating to a hold rating in a report on Wednesday, May 24th. BidaskClub lowered shares of Fidelity and Guaranty Life from a strong-buy rating to a buy rating in a report on Sunday, July 16th. Finally, Zacks Investment Research lowered shares of Fidelity and Guaranty Life from a buy rating to a hold rating in a report on Tuesday, April 11th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $26.60.
Shares of Fidelity and Guaranty Life (NYSE:FGL) traded up 0.16% during mid-day trading on Tuesday, hitting $31.20. 291,625 shares of the stock were exchanged. The company’s 50-day moving average is $31.12 and its 200-day moving average is $28.17. Fidelity and Guaranty Life has a 1-year low of $21.10 and a 1-year high of $31.30. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 10.73 and a beta of 0.91.
Fidelity and Guaranty Life (NYSE:FGL) last issued its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $0.62 EPS for the quarter, hitting analysts’ consensus estimates of $0.62. Fidelity and Guaranty Life had a net margin of 13.16% and a return on equity of 9.10%. The firm had revenue of $375 million for the quarter, compared to analyst estimates of $295 million. During the same quarter in the prior year, the firm earned $0.73 EPS. The company’s revenue was up 60.9% on a year-over-year basis. Equities research analysts anticipate that Fidelity and Guaranty Life will post $2.65 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Monday, August 14th will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Thursday, August 10th. Fidelity and Guaranty Life’s dividend payout ratio is currently 8.93%.
Several hedge funds and other institutional investors have recently modified their holdings of FGL. American International Group Inc. raised its position in shares of Fidelity and Guaranty Life by 7.1% in the first quarter. American International Group Inc. now owns 7,331 shares of the financial services provider’s stock valued at $204,000 after buying an additional 484 shares during the period. Virtu Financial LLC acquired a new position in shares of Fidelity and Guaranty Life during the second quarter valued at about $390,000. Karp Capital Management Corp acquired a new position in shares of Fidelity and Guaranty Life during the first quarter valued at about $446,000. Russell Investments Group Ltd. acquired a new position in shares of Fidelity and Guaranty Life during the fourth quarter valued at about $506,000. Finally, Menta Capital LLC acquired a new position in shares of Fidelity and Guaranty Life during the first quarter valued at about $594,000. 23.39% of the stock is currently owned by institutional investors.
Fidelity and Guaranty Life Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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