TIAA CREF Investment Management LLC increased its stake in shares of Fidelity and Guaranty Life (NYSE:FGL) by 8.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,918 shares of the financial services provider’s stock after buying an additional 4,624 shares during the period. TIAA CREF Investment Management LLC’s holdings in Fidelity and Guaranty Life were worth $1,582,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. American International Group Inc. increased its stake in shares of Fidelity and Guaranty Life by 7.1% in the first quarter. American International Group Inc. now owns 7,331 shares of the financial services provider’s stock valued at $204,000 after buying an additional 484 shares in the last quarter. Meritage Portfolio Management increased its stake in shares of Fidelity and Guaranty Life by 0.8% in the first quarter. Meritage Portfolio Management now owns 107,160 shares of the financial services provider’s stock valued at $2,979,000 after buying an additional 810 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Fidelity and Guaranty Life by 4.6% in the first quarter. Alliancebernstein L.P. now owns 27,300 shares of the financial services provider’s stock valued at $759,000 after buying an additional 1,200 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Fidelity and Guaranty Life by 14.3% in the fourth quarter. Teachers Advisors LLC now owns 40,827 shares of the financial services provider’s stock valued at $968,000 after buying an additional 5,118 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Fidelity and Guaranty Life by 3.9% in the fourth quarter. State Street Corp now owns 192,891 shares of the financial services provider’s stock valued at $4,569,000 after buying an additional 7,308 shares in the last quarter. 24.64% of the stock is owned by institutional investors and hedge funds.

Shares of Fidelity and Guaranty Life (NYSE:FGL) traded up 0.16% on Friday, reaching $31.20. The company’s stock had a trading volume of 246,004 shares. The stock has a market cap of $1.82 billion, a PE ratio of 9.48 and a beta of 0.90. The company’s 50 day moving average is $31.12 and its 200-day moving average is $28.60. Fidelity and Guaranty Life has a 1-year low of $21.10 and a 1-year high of $31.30.

Fidelity and Guaranty Life (NYSE:FGL) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. The firm had revenue of $380 million for the quarter, compared to analyst estimates of $308 million. Fidelity and Guaranty Life had a return on equity of 8.00% and a net margin of 13.61%. The company’s revenue for the quarter was up 45.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. On average, equities analysts predict that Fidelity and Guaranty Life will post $2.65 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Monday, August 14th will be issued a $0.065 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.83%. Fidelity and Guaranty Life’s dividend payout ratio (DPR) is 7.90%.

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Several equities research analysts recently issued reports on FGL shares. BidaskClub downgraded Fidelity and Guaranty Life from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Sandler O’Neill downgraded Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Finally, ValuEngine raised Fidelity and Guaranty Life from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Fidelity and Guaranty Life presently has an average rating of “Hold” and a consensus price target of $26.60.

Fidelity and Guaranty Life Company Profile

Fidelity & Guaranty Life (FGL) is a holding company focused on obtaining controlling equity stakes in companies that operate across various industries. FGL’s primary business is the sale of individual life insurance products and annuities through independent agents, managing general agents, and specialty brokerage firms and in selected institutional markets.

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Institutional Ownership by Quarter for Fidelity and Guaranty Life (NYSE:FGL)

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