Renaissance Technologies LLC Acquires 179,800 Shares of Fidelity & Guaranty Life (FGL)

Renaissance Technologies LLC raised its position in Fidelity & Guaranty Life (NYSE:FGL) by 90.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 379,500 shares of the financial services provider’s stock after buying an additional 179,800 shares during the period. Renaissance Technologies LLC owned 0.65% of Fidelity & Guaranty Life worth $8,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. acquired a new position in shares of Fidelity & Guaranty Life during the third quarter worth approximately $205,000. Dynamic Technology Lab Private Ltd purchased a new position in Fidelity & Guaranty Life during the fourth quarter worth about $226,000. Russell Investments Group Ltd. purchased a new position in Fidelity & Guaranty Life during the fourth quarter worth about $506,000. Nordea Investment Management AB boosted its position in Fidelity & Guaranty Life by 140.6% in the third quarter. Nordea Investment Management AB now owns 50,570 shares of the financial services provider’s stock worth $1,173,000 after buying an additional 29,549 shares during the period. Finally, BOKF NA boosted its position in Fidelity & Guaranty Life by 530.2% in the third quarter. BOKF NA now owns 55,193 shares of the financial services provider’s stock worth $1,280,000 after buying an additional 46,435 shares during the period. Hedge funds and other institutional investors own 22.60% of the company’s stock.

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

Shares of Fidelity & Guaranty Life (NYSE:FGL) traded down 0.18% during mid-day trading on Friday, hitting $27.90. 772,686 shares of the company were exchanged. The firm has a market capitalization of $1.63 billion, a P/E ratio of 10.39 and a beta of 0.83. The company’s 50-day moving average price is $27.35 and its 200-day moving average price is $24.82. Fidelity & Guaranty Life has a 12-month low of $21.10 and a 12-month high of $28.10.

Fidelity & Guaranty Life (NYSE:FGL) last released its earnings results on Monday, February 6th. The financial services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.09. The firm had revenue of $340 million for the quarter, compared to the consensus estimate of $283.10 million. Fidelity & Guaranty Life had a net margin of 13.65% and a return on equity of 10.23%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. Equities research analysts predict that Fidelity & Guaranty Life will post $2.65 earnings per share for the current fiscal year.

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FGL has been the subject of a number of research analyst reports. Sandler O’Neill upgraded shares of Fidelity & Guaranty Life from a “hold” rating to a “buy” rating and set a $26.80 target price for the company in a research note on Tuesday, January 17th. Zacks Investment Research upgraded shares of Fidelity & Guaranty Life from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 4th.

Fidelity & 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.

5 Day Chart for NYSE:FGL

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