FGL (NYSE:FG) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS – Fairfield Current


FGL (NYSE:FG) posted its quarterly earnings results on Wednesday, February 27th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.27 by $0.07, Briefing.com reports. FGL had a return on equity of 5.91% and a net margin of 3.74%.

Shares of NYSE:FG opened at $8.58 on Friday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.61. FGL has a 1 year low of $5.93 and a 1 year high of $10.54.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Friday, March 15th.

In related news, Director Richard N. Massey purchased 50,000 shares of FGL stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average cost of $8.44 per share, with a total value of $422,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy Martin Walsh bought 10,000 shares of the business’s stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of $8.37 per share, for a total transaction of $83,700.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 180,000 shares of company stock worth $1,527,700 over the last three months. 21.50% of the stock is currently owned by corporate insiders.

FG has been the subject of a number of research reports. Zacks Investment Research cut FGL from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Citigroup initiated coverage on FGL in a report on Friday, December 7th. They set a “neutral” rating and a $8.50 target price for the company. Finally, ValuEngine cut FGL from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.35.

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About FGL

FGL Holdings, through its subsidiaries, 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 life and annuity reinsurance services, such as reinsurance on asset intensive, long duration life, and annuity liabilities.

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