FGL Holdings (NYSE:FG) Given Consensus Rating of “Hold” by Brokerages

FGL Holdings (NYSE:FG) has been given a consensus rating of “Hold” by the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.83.

Several research analysts have recently weighed in on the company. Royal Bank of Canada cut FGL from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $12.50 to $10.00 in a research note on Friday, March 20th. ValuEngine cut FGL from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 9th. Zacks Investment Research cut FGL from a “hold” rating to a “sell” rating in a research note on Thursday, May 7th. Finally, TheStreet cut FGL from a “b+” rating to a “c-” rating in a research note on Thursday, May 7th.

In other FGL news, insider Jonathan Bayer sold 59,960 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $10.60, for a total transaction of $635,576.00. Following the completion of the sale, the insider now owns 64,672 shares of the company’s stock, valued at $685,523.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Eric L. Marhoun sold 153,144 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $10.51, for a total value of $1,609,543.44. Following the sale, the general counsel now directly owns 42,222 shares of the company’s stock, valued at approximately $443,753.22. The disclosure for this sale can be found here. Insiders sold 504,533 shares of company stock valued at $5,299,524 in the last ninety days. 15.10% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can grew its holdings in FGL by 44.0% during the fourth quarter. Bank of Montreal Can now owns 18,416 shares of the company’s stock valued at $196,000 after purchasing an additional 5,630 shares during the period. Gabelli Funds LLC bought a new stake in FGL during the first quarter valued at about $1,602,000. Wellington Management Group LLP bought a new stake in FGL during the first quarter valued at about $1,068,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in FGL during the fourth quarter valued at about $472,000. Finally, Alliancebernstein L.P. grew its holdings in FGL by 311.4% during the first quarter. Alliancebernstein L.P. now owns 824,663 shares of the company’s stock valued at $8,082,000 after purchasing an additional 624,228 shares during the period. 79.18% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:FG opened at $8.39 on Wednesday. The stock has a fifty day simple moving average of $9.02 and a two-hundred day simple moving average of $10.05. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -49.35 and a beta of 0.58. FGL has a 12-month low of $6.31 and a 12-month high of $12.46. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.15.

FGL (NYSE:FG) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.20). FGL had a return on equity of 14.61% and a net margin of 23.99%. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $398.00 million. During the same quarter in the prior year, the firm earned $0.37 EPS. As a group, equities research analysts predict that FGL will post 1.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Tuesday, May 26th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Friday, May 22nd. FGL’s payout ratio is currently 2.70%.

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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Analyst Recommendations for FGL (NYSE:FG)

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