FGL Holdings (FG) Receives $9.75 Consensus Price Target from Brokerages

FGL Holdings (NYSE:FG) has received a consensus rating of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.75.

Separately, Zacks Investment Research upgraded shares of FGL from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th.

In other news, insider Christopher O. Blunt acquired 20,000 shares of FGL stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of $8.40 per share, for a total transaction of $168,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy Martin Walsh acquired 10,000 shares of FGL stock in a transaction on Friday, March 8th. The shares were purchased at an average price of $8.37 per share, with a total value of $83,700.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 180,000 shares of company stock valued at $1,527,700 in the last three months. 15.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in FGL during the third quarter valued at approximately $653,000. Teachers Advisors LLC lifted its holdings in FGL by 6.1% during the third quarter. Teachers Advisors LLC now owns 282,920 shares of the company’s stock valued at $2,532,000 after purchasing an additional 16,333 shares in the last quarter. Vanguard Group Inc. lifted its holdings in FGL by 1.6% during the third quarter. Vanguard Group Inc. now owns 12,381,299 shares of the company’s stock valued at $110,812,000 after purchasing an additional 200,029 shares in the last quarter. Federated Investors Inc. PA lifted its holdings in FGL by 19.1% during the third quarter. Federated Investors Inc. PA now owns 964,780 shares of the company’s stock valued at $8,635,000 after purchasing an additional 154,629 shares in the last quarter. Finally, Vanguard Group Inc lifted its holdings in FGL by 1.6% during the third quarter. Vanguard Group Inc now owns 12,381,299 shares of the company’s stock valued at $110,812,000 after purchasing an additional 200,029 shares in the last quarter. 72.19% of the stock is currently owned by institutional investors.

FG opened at $8.54 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 7.18 and a beta of 1.05. FGL has a twelve month low of $5.93 and a twelve month high of $9.63.

FGL (NYSE:FG) last released its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.06. The firm had revenue of $600.00 million for the quarter, compared to analysts’ expectations of $368.89 million. FGL had a net margin of 20.50% and a return on equity of 20.91%. During the same period in the previous year, the company earned $0.28 earnings per share. As a group, research analysts anticipate that FGL will post 1.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, May 24th. This represents a $0.04 annualized dividend and a yield of 0.47%. FGL’s payout ratio is currently 3.36%.

FGL Company Profile

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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