TIAA CREF Investment Management LLC lowered its stake in Fidelity and Guaranty Life (NYSE:FGL) by 45.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,082 shares of the financial services provider’s stock after selling 25,836 shares during the period. TIAA CREF Investment Management LLC owned 0.05% of Fidelity and Guaranty Life worth $965,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Schroder Investment Management Group acquired a new stake in Fidelity and Guaranty Life in the second quarter valued at approximately $171,000. American International Group Inc. boosted its position in 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 in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Fidelity and Guaranty Life in the second quarter valued at approximately $621,000. Aperio Group LLC boosted its position in Fidelity and Guaranty Life by 41.5% in the second quarter. Aperio Group LLC now owns 22,693 shares of the financial services provider’s stock valued at $705,000 after buying an additional 6,652 shares in the last quarter. Finally, S. Muoio & CO. LLC acquired a new stake in Fidelity and Guaranty Life in the second quarter valued at approximately $776,000. Hedge funds and other institutional investors own 23.52% of the company’s stock.

Fidelity and Guaranty Life (NYSE:FGL) opened at $31.20 on Friday. The stock has a market cap of $1,817.00, a price-to-earnings ratio of 11.78 and a beta of 0.88. Fidelity and Guaranty Life has a 52 week low of $22.85 and a 52 week high of $31.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.20 and a current ratio of 0.20.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, November 24th. Fidelity and Guaranty Life’s payout ratio is currently 7.90%.

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A number of analysts have weighed in on FGL shares. ValuEngine lowered shares of Fidelity and Guaranty Life from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub lowered shares of Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a research report on Monday, July 24th.

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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