FGL (FG) Rating Increased to C at TheStreet

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FGL (NYSE:FG) was upgraded by stock analysts at TheStreet from an “e+” rating to a “c” rating in a research note issued on Thursday.

Several other analysts have also weighed in on the company. Zacks Investment Research upgraded FGL from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a report on Monday, September 3rd. ValuEngine lowered FGL from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Goldman Sachs Group began coverage on FGL in a research report on Tuesday, August 21st. They set a “neutral” rating and a $10.50 target price on the stock. Royal Bank of Canada began coverage on FGL in a research report on Tuesday, July 17th. They set an “outperform” rating and a $10.00 target price on the stock. Finally, Credit Suisse Group cut their target price on FGL from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $10.45.

Shares of FGL stock traded down $0.08 during trading on Thursday, hitting $7.89. The stock had a trading volume of 811,347 shares, compared to its average volume of 979,063. 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 fifty-two week low of $7.54 and a fifty-two week high of $10.74.

FGL (NYSE:FG) last announced its quarterly earnings data on Thursday, November 8th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $444.00 million during the quarter, compared to analyst estimates of $349.58 million. FGL had a return on equity of 10.97% and a net margin of 6.09%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.11 earnings per share. Sell-side analysts forecast that FGL will post 1.12 EPS for the current year.

In related news, CFO Dennis Vigneau bought 25,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were bought at an average cost of $8.75 per share, with a total value of $218,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Massey bought 50,000 shares of the business’s stock in a transaction dated Wednesday, September 12th. The shares were bought at an average cost of $8.76 per share, for a total transaction of $438,000.00. The disclosure for this purchase can be found here. Insiders have bought 105,000 shares of company stock worth $918,950 over the last ninety days. 21.50% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in FGL by 379.5% during the second quarter. Bank of New York Mellon Corp now owns 613,144 shares of the company’s stock valued at $5,144,000 after buying an additional 485,276 shares during the period. Voya Investment Management LLC acquired a new position in FGL during the second quarter valued at $397,000. Swiss National Bank acquired a new position in FGL during the second quarter valued at $2,035,000. Federated Investors Inc. PA acquired a new position in FGL during the second quarter valued at $6,797,000. Finally, Strs Ohio acquired a new position in FGL during the second quarter valued at $348,000. 72.65% of the stock is currently owned by hedge funds and other institutional investors.

About FGL

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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Analyst Recommendations for FGL (NYSE:FG)

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