Fidelity and Guaranty Life (FGL) Receives Average Recommendation of “Buy” from Brokerages

Shares of Fidelity and Guaranty Life (NYSE:FGL) have been given an average broker rating score of 2.33 (Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Analysts have set a twelve-month consensus price target of $28.90 for the company and are forecasting that the company will post $0.65 earnings per share for the current quarter, according to Zacks. Zacks has also given Fidelity and Guaranty Life an industry rank of 44 out of 265 based on the ratings given to its competitors.

A number of brokerages have recently commented on FGL. BidaskClub cut Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. ValuEngine raised Fidelity and Guaranty Life from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th.

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A number of institutional investors and hedge funds have recently modified their holdings of FGL. FMR LLC purchased a new stake in Fidelity and Guaranty Life during the 2nd quarter worth about $36,304,000. JPMorgan Chase & Co. lifted its holdings in Fidelity and Guaranty Life by 5,004.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 821,707 shares of the financial services provider’s stock worth $25,514,000 after purchasing an additional 805,608 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new stake in Fidelity and Guaranty Life during the 2nd quarter worth about $22,007,000. Omni Partners LLP purchased a new stake in Fidelity and Guaranty Life during the 2nd quarter worth about $12,365,000. Finally, Renaissance Technologies LLC lifted its holdings in Fidelity and Guaranty Life by 67.8% during the 1st quarter. Renaissance Technologies LLC now owns 636,657 shares of the financial services provider’s stock worth $17,699,000 after purchasing an additional 257,157 shares in the last quarter. 23.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of Fidelity and Guaranty Life (NYSE FGL) traded down $0.25 during midday trading on Friday, hitting $30.95. The stock had a trading volume of 634,839 shares, compared to its average volume of 219,905. Fidelity and Guaranty Life has a 1 year low of $22.00 and a 1 year high of $31.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market cap of $1.83 billion, a PE ratio of 11.65 and a beta of 0.88.

Fidelity and Guaranty Life (NYSE:FGL) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.63 EPS for the quarter, meeting analysts’ consensus estimates of $0.63. Fidelity and Guaranty Life had a return on equity of 8.00% and a net margin of 13.61%. The firm had revenue of $380.00 million for the quarter, compared to analysts’ expectations of $308.00 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 45.6% compared to the same quarter last year. research analysts forecast that Fidelity and Guaranty Life will post 2.59 earnings per share for the current fiscal year.

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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