Fidelity & Guaranty Life (FGL) Sees Unusually-High Trading Volume
Shares of Fidelity & Guaranty Life (NYSE:FGL) saw an uptick in trading volume on Thursday . 221,623 shares changed hands 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 research firms have commented on FGL. JPMorgan Chase & Co. reissued a “hold” rating and set a $26.00 target price on shares of Fidelity & Guaranty Life in a research report on Wednesday, July 6th. Sandler O’Neill cut shares of Fidelity & Guaranty Life from a “buy” rating to a “hold” rating and dropped their target price for the stock from $26.00 to $25.00 in a research report on Monday, March 28th. Five research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $27.00.
The stock has a 50 day moving average of $22.90 and a 200 day moving average of $24.87. The company has a market capitalization of $1.32 billion and a P/E ratio of 7.63.
Fidelity & Guaranty Life (NYSE:FGL) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.17. During the same quarter in the prior year, the firm earned $0.40 EPS. The company had revenue of $233 million for the quarter, compared to analysts’ expectations of $268.60 million. Fidelity & Guaranty Life’s quarterly revenue was up 24.6% compared to the same quarter last year. Equities research analysts expect that Fidelity & Guaranty Life will post $2.39 earnings per share for the current year.
Other institutional investors recently made changes to their positions in the company. Stevens Capital Management LP bought a new position in shares of Fidelity & Guaranty Life during the fourth quarter valued at about $1,459,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Fidelity & Guaranty Life during the fourth quarter worth $5,074,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Fidelity & Guaranty Life during the fourth quarter worth $2,773,000. Morgan Stanley boosted 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 worth $18,290,000 after buying an additional 697,867 shares during the period. Finally, I.G. Investment Management LTD. boosted its stake 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 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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