Several other analysts have also issued reports on FG. Royal Bank of Canada started coverage on FGL in a report on Tuesday, July 17th. They set an outperform rating and a $10.00 price objective for the company. Zacks Investment Research upgraded FGL from a hold rating to a strong-buy rating and set a $10.00 price objective for the company in a report on Wednesday, July 18th. ValuEngine lowered FGL from a hold rating to a sell rating in a report on Tuesday, August 7th. Credit Suisse Group lowered their target price on shares of FGL from $11.00 to $10.00 and set a neutral rating on the stock in a research report on Friday, August 17th. Finally, Goldman Sachs Group started coverage on shares of FGL in a research report on Tuesday, August 21st. They set a neutral rating and a $10.50 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. FGL currently has a consensus rating of Hold and a consensus price target of $10.45.
Shares of NYSE:FG traded down $0.08 during midday trading on Thursday, hitting $7.89. 811,347 shares of the stock were exchanged, compared to its average volume of 979,063. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.40. FGL has a 52-week low of $7.54 and a 52-week high of $10.74.
FGL (NYSE:FG) last announced its quarterly earnings data on Thursday, November 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. FGL had a return on equity of 10.97% and a net margin of 6.09%. The business had revenue of $444.00 million during the quarter, compared to analyst estimates of $349.58 million. During the same period last year, the company earned $1.11 earnings per share. FGL’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts expect that FGL will post 1.12 earnings per share for the current fiscal year.
In other FGL news, Director Richard N. Massey bought 50,000 shares of the stock in a transaction on Wednesday, September 12th. The shares were purchased at an average cost of $8.76 per share, with a total value of $438,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher J. Littlefield bought 30,000 shares of the stock in a transaction on Friday, September 14th. The shares were acquired at an average cost of $8.74 per share, for a total transaction of $262,200.00. The disclosure for this purchase can be found here. Insiders have acquired 105,000 shares of company stock worth $918,950 over the last three months. Company insiders own 21.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FG. BlackRock Inc. grew its position in shares of FGL by 6.5% in the third quarter. BlackRock Inc. now owns 11,680,188 shares of the company’s stock valued at $104,538,000 after purchasing an additional 716,223 shares during the last quarter. River Road Asset Management LLC grew its position in shares of FGL by 39.2% in the third quarter. River Road Asset Management LLC now owns 3,197,808 shares of the company’s stock valued at $28,620,000 after purchasing an additional 900,245 shares during the last quarter. Northern Trust Corp grew its position in shares of FGL by 502.1% in the second quarter. Northern Trust Corp now owns 1,614,000 shares of the company’s stock valued at $13,541,000 after purchasing an additional 1,345,923 shares during the last quarter. Sapience Investments LLC grew its position in shares of FGL by 19.2% in the second quarter. Sapience Investments LLC now owns 1,153,600 shares of the company’s stock valued at $9,679,000 after purchasing an additional 186,150 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of FGL by 346.2% in the third quarter. Wells Fargo & Company MN now owns 906,727 shares of the company’s stock valued at $8,115,000 after purchasing an additional 703,538 shares during the last quarter. 72.65% of the stock is currently owned by hedge funds and other institutional investors.
FGL Holdings, through its subsidiaries, sells individual life insurance products and annuities in the United States. The company offers deferred annuities, including fixed indexed annuity contracts and fixed rate annuity contracts; immediate annuities; and life insurance products. It also provides life and annuity reinsurance services, such as reinsurance on asset intensive, long duration life, and annuity liabilities.
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