Fidelity and Guaranty Life (NYSE:FGL) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

A number of other analysts have also commented on FGL. BidaskClub lowered shares of Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Sandler O’Neill lowered shares of Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $26.60.

Fidelity and Guaranty Life (NYSE:FGL) remained flat at $31.25 on Friday. 159,572 shares of the company’s stock traded hands. The firm has a market capitalization of $1.83 billion, a PE ratio of 9.50 and a beta of 0.90. The company’s 50 day moving average is $31.16 and its 200 day moving average is $29.31. Fidelity and Guaranty Life has a one year low of $21.10 and a one year high of $31.38.

Fidelity and Guaranty Life (NYSE:FGL) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.63 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.63. The business had revenue of $380 million for the quarter, compared to analyst estimates of $308 million. Fidelity and Guaranty Life had a net margin of 13.61% and a return on equity of 8.00%. The firm’s revenue for the quarter was up 45.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, equities research analysts predict that Fidelity and Guaranty Life will post $2.65 earnings per share for the current year.

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A number of hedge funds have recently bought and sold shares of FGL. FMR LLC purchased a new stake in Fidelity and Guaranty Life during the second quarter valued at about $36,304,000. JPMorgan Chase & Co. raised its stake in Fidelity and Guaranty Life by 5,004.1% in the second quarter. JPMorgan Chase & Co. now owns 821,707 shares of the financial services provider’s stock valued at $25,514,000 after buying an additional 805,608 shares during the period. Coronation Fund Managers Ltd. purchased a new stake in Fidelity and Guaranty Life during the second quarter valued at about $22,007,000. Paulson & CO. Inc. purchased a new stake in Fidelity and Guaranty Life during the first quarter valued at about $11,120,000. Finally, Omni Partners LLP purchased a new stake in Fidelity and Guaranty Life during the second quarter valued at about $12,365,000. 23.52% of the stock is currently owned by hedge funds and other institutional investors.

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.

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