Fidelity & Guaranty Life (FGL) Sees Strong Trading Volume
Fidelity & Guaranty Life (NYSE:FGL) shares saw unusually-strong trading volume on Thursday . Approximately 221,623 shares were traded during trading, an increase of 26% from the previous session’s volume of 175,654 shares.The stock last traded at $22.79 and had previously closed at $22.57.
Several equities research analysts have recently weighed in on FGL shares. Sandler O’Neill cut shares of Fidelity & Guaranty Life from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $26.00 to $25.00 in a research report on Monday, March 28th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $26.00 price objective on shares of Fidelity & Guaranty Life in a research report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $27.00.
The company has a 50 day moving average price of $22.96 and a 200-day moving average price of $24.89. The company has a market capitalization of $1.33 billion and a price-to-earnings ratio of 7.68.
Fidelity & Guaranty Life (NYSE:FGL) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. During the same period last year, the company posted $0.40 earnings per share. The firm had revenue of $233 million for the quarter, compared to analysts’ expectations of $268.60 million. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities analysts predict that Fidelity & Guaranty Life will post $2.39 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its stake in shares of Fidelity & Guaranty Life by 3,029.5% in the fourth quarter. Morgan Stanley now owns 720,903 shares of the company’s stock valued at $18,290,000 after buying an additional 697,867 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Fidelity & Guaranty Life during the fourth quarter valued at approximately $5,074,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Fidelity & Guaranty Life during the fourth quarter valued at approximately $2,773,000. Stevens Capital Management LP purchased a new stake in shares of Fidelity & Guaranty Life during the fourth quarter valued at approximately $1,459,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Fidelity & Guaranty Life by 53.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 113,560 shares of the company’s stock valued at $2,881,000 after buying an additional 39,670 shares during the period.
Fidelity & Guaranty Life, formerly Harbinger F&G, LLC, is a holding company. The Company’s primary business is the sale of individual life insurance products and annuities through independent agents, managing general agents and brokerage firms in selected institutional markets. Its product types include fixed indexed annuities, fixed rate annuities, single premium immediate annuities (SPIAs) and life insurance, such as Universal Life and traditional life insurance products.
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