Fidelity & Guaranty Life (FGL) Hits New 12-Month Low at $22.16
Fidelity & Guaranty Life (NYSE:FGL) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $22.16 and last traded at $22.25, with a volume of 64,320 shares traded. The stock had previously closed at $22.29.
FGL has been the topic of several recent analyst reports. JPMorgan Chase & Co. reissued a “hold” rating and set a $26.00 price target on shares of Fidelity & Guaranty Life in a research report on Wednesday, July 6th. Sandler O’Neill lowered Fidelity & Guaranty Life from a “buy” rating to a “hold” rating and dropped their price target for the company from $26.00 to $25.00 in a research report on Monday, March 28th. Five investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average target price of $25.50.
The firm’s 50-day moving average is $22.75 and its 200-day moving average is $24.76. The firm has a market cap of $1.31 billion and a PE ratio of 7.57.
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 Zacks’ consensus estimate of $0.56 by $0.17. During the same quarter in the previous year, the business posted $0.40 earnings per share. The firm earned $233 million during the quarter, compared to the consensus estimate of $268.60 million. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. On average, equities research analysts predict that Fidelity & Guaranty Life will post $2.39 EPS for the current fiscal year.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its position 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 worth $18,290,000 after buying an additional 697,867 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Fidelity & Guaranty Life during the fourth quarter worth approximately $2,773,000. Dimensional Fund Advisors LP raised its position 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 worth $2,881,000 after buying an additional 39,670 shares during the last quarter. Finally, I.G. Investment Management LTD. raised its position in shares of Fidelity & Guaranty Life by 0.3% in the fourth quarter. I.G. Investment Management LTD. now owns 46,448 shares of the company’s stock worth $1,178,000 after buying an additional 120 shares during the last quarter.
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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