FGL Holdings to Issue Quarterly Dividend of $0.01 (NYSE:FG)

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FGL Holdings (NYSE:FG) declared a quarterly dividend on Wednesday, August 7th, NASDAQ reports. Stockholders of record on Monday, August 26th will be given a dividend of 0.01 per share on Monday, September 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, August 23rd.

FGL has a dividend payout ratio of 2.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect FGL to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.4%.

NYSE:FG opened at $7.54 on Wednesday. FGL has a 1 year low of $5.93 and a 1 year high of $9.31. The firm has a 50 day moving average of $7.92 and a 200-day moving average of $8.19. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.69 billion, a P/E ratio of 6.34 and a beta of 1.02.

FGL (NYSE:FG) last posted its earnings results on Wednesday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). FGL had a net margin of 20.16% and a return on equity of 17.88%. The firm had revenue of $495.00 million during the quarter, compared to the consensus estimate of $374.03 million. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue was up 45.6% on a year-over-year basis. As a group, analysts forecast that FGL will post 1.37 EPS for the current fiscal year.

In other FGL news, major shareholder Blackstone Group Inc bought 197,474 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $7.25 per share, with a total value of $1,431,686.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher O. Blunt bought 110,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $7.34 per share, with a total value of $807,400.00. The disclosure for this purchase can be found here. Insiders purchased a total of 550,088 shares of company stock valued at $4,080,527 in the last 90 days. 15.10% of the stock is currently owned by corporate insiders.

A number of research analysts have recently issued reports on the stock. ValuEngine cut shares of FGL from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Citigroup set a $10.00 price objective on shares of FGL and gave the stock a “hold” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research cut shares of FGL from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $9.83.

About FGL

FGL Holdings 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 reinsurance on asset intensive, long duration life, and annuity liabilities, such as fixed, deferred and payout annuities, long-term care, group long-term disability, and cash value life insurance.

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