FGL (NYSE:FG) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, September 12th.
Several other research firms have also recently commented on FG. Goldman Sachs Group began coverage on shares of FGL in a research report on Tuesday, August 21st. They set a “neutral” rating and a $10.50 target price on the stock. Credit Suisse Group dropped their target price on shares of FGL from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Royal Bank of Canada began coverage on shares of FGL in a report on Tuesday, July 17th. They issued an “outperform” rating and a $10.00 price target on the stock. Finally, Zacks Investment Research raised shares of FGL from a “hold” rating to a “strong-buy” rating and set a $10.00 price target on the stock in a report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. FGL presently has a consensus rating of “Hold” and an average target price of $10.45.
Shares of FG traded down $0.09 during trading hours on Wednesday, hitting $8.83. The stock had a trading volume of 997,982 shares, compared to its average volume of 1,100,704. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.20 and a current ratio of 0.20. FGL has a 1-year low of $8.14 and a 1-year high of $11.94.
FGL (NYSE:FG) last issued its earnings results on Thursday, August 9th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm had revenue of $340.00 million during the quarter, compared to analyst estimates of $330.53 million. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, analysts forecast that FGL will post 1.13 EPS for the current year.
In other news, Director Richard N. Massey purchased 50,000 shares of FGL stock in a transaction dated Wednesday, September 12th. The stock was purchased at an average cost of $8.76 per share, for a total transaction of $438,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher J. Littlefield purchased 30,000 shares of FGL stock in a transaction dated Friday, September 14th. The shares were purchased at an average price of $8.74 per share, with a total value of $262,200.00. The disclosure for this purchase can be found here. Insiders purchased a total of 105,000 shares of company stock valued at $918,950 over the last quarter. 21.50% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new position in FGL in the third quarter worth $112,000. Dynamic Technology Lab Private Ltd purchased a new position in FGL in the first quarter worth $130,000. Amalgamated Bank purchased a new position in FGL in the second quarter worth $161,000. Quantitative Systematic Strategies LLC purchased a new position in FGL in the first quarter worth $180,000. Finally, Legal & General Group Plc purchased a new position in FGL in the second quarter worth $183,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.
FGL Holdings, through its subsidiaries, sells individual life insurance products and annuities in the United States. The company offers deferred annuities, including fixed indexed annuity contracts and fixed rate annuity contracts; immediate annuities; and life insurance products. It also provides life and annuity reinsurance services, such as reinsurance on asset intensive, long duration life, and annuity liabilities.
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