Fidelity & Guaranty Life’s Lock-Up Period Set To End Tomorrow (NYSE:FGL)
Fidelity & Guaranty Life’s (NYSE:FGL) lock-up period is set to expire on Wednesday, June 11th. Fidelity & Guaranty Life had issued 9,750,000 shares in its IPO on December 13th, Stock Ratings Network.com reports. The total size of the offering was $165,750,000 based on an initial share price of $17.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
A number of analysts have recently weighed in on FGL shares. Analysts at Credit Suisse downgraded shares of Fidelity & Guaranty Life from an “outperform” rating to a “neutral” rating in a research note on Friday, May 16th. They now have a $24.00 price target on the stock, up previously from $22.00. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $23.25.
Fidelity & Guaranty Life (NYSE:FGL) traded down 1.02% on Tuesday, hitting $22.22. 2,830 shares of the company’s stock traded hands. Fidelity & Guaranty Life has a 52 week low of $18.12 and a 52 week high of $24.52. The stock’s 50-day moving average is $21.33 and its 200-day moving average is $21.01.
Fidelity & Guaranty Life (NYSE:FGL) last released its earnings data on Thursday, May 8th. The company reported $0.42 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.43 by $0.01. The company had revenue of $214.30 million for the quarter, compared to the consensus estimate of $223.49 million. During the same quarter in the prior year, the company posted $1.56 earnings per share. The company’s quarterly revenue was down 46.9% on a year-over-year basis. On average, analysts predict that Fidelity & Guaranty Life will post $2.22 earnings per share for the current fiscal year.
Fidelity & Guaranty Life is a holding company. The Company offers various types of fixed annuities and life insurance products through its insurance subsidiaries: Fidelity & Guaranty Life Insurance Company (NYSE:FGL) and Fidelity & Guaranty Life Insurance Company of New York (FGL NY Insurance).
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