Fidelity & Guaranty Life (FGL) Hits New 1-Year Low at $21.42
Shares of Fidelity & Guaranty Life (NYSE:FGL) hit a new 52-week low on Thursday . The company traded as low as $21.42 and last traded at $21.70, with a volume of 215,331 shares. The stock had previously closed at $22.40.
Separately, JPMorgan Chase & Co. restated a “hold” rating and set a $26.00 target price on shares of Fidelity & Guaranty Life in a report on Wednesday, July 6th. Five investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $25.50.
The firm has a 50 day moving average price of $22.65 and a 200 day moving average price of $24.65. The firm has a market capitalization of $1.28 billion and a PE ratio of 7.37.
Fidelity & Guaranty Life (NYSE:FGL) last released its quarterly earnings results 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 last year, the firm earned $0.40 earnings per share. The firm earned $233 million during the quarter, compared to analyst estimates of $268.60 million. Fidelity & Guaranty Life’s quarterly revenue was up 24.6% on a year-over-year basis. On average, equities analysts predict that Fidelity & Guaranty Life will post $2.34 EPS for the current fiscal year.
Other institutional investors have recently added to or reduced their stakes in the company. I.G. Investment Management LTD. raised its position in 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 period. Dimensional Fund Advisors LP raised its position in 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 period. Finally, Morgan Stanley raised its position in 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 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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