Fidelity and Guaranty Life (NYSE:FGL) Announces Earnings Results
Fidelity and Guaranty Life (NYSE:FGL) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.63 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.63, Bloomberg Earnings reports. Fidelity and Guaranty Life had a net margin of 13.16% and a return on equity of 9.10%. The business had revenue of $380 million for the quarter, compared to analysts’ expectations of $308 million. During the same quarter in the previous year, the business posted $0.82 earnings per share. The business’s revenue was up 45.6% compared to the same quarter last year.
Shares of Fidelity and Guaranty Life (FGL) remained flat at $31.15 during mid-day trading on Wednesday. 138,710 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $31.12 and a 200-day moving average price of $28.34. The stock has a market capitalization of $1.82 billion, a PE ratio of 10.72 and a beta of 0.90. Fidelity and Guaranty Life has a 52 week low of $21.10 and a 52 week high of $31.30.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Monday, August 14th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, August 10th. Fidelity and Guaranty Life’s dividend payout ratio (DPR) is 8.93%.
A number of research analysts have weighed in on the stock. BidaskClub cut shares of Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. ValuEngine upgraded shares of Fidelity and Guaranty Life from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Sandler O’Neill cut shares of Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Finally, Zacks Investment Research cut shares of Fidelity and Guaranty Life from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $26.60.
Fidelity and Guaranty Life Company Profile
Fidelity & Guaranty Life (FGL) is a holding company focused on obtaining controlling equity stakes in companies that operate across various industries. FGL’s primary business is the sale of individual life insurance products and annuities through independent agents, managing general agents, and specialty brokerage firms and in selected institutional markets.
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