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


FGL (NYSE:FG) issued its quarterly earnings results on Wednesday, February 27th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.07, Briefing.com reports. FGL had a net margin of 18.33% and a return on equity of 20.21%.

FGL stock traded down $0.51 during mid-day trading on Friday, hitting $7.99. The company’s stock had a trading volume of 1,110,151 shares, compared to its average volume of 983,818. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $1.89 billion, a PE ratio of 6.71 and a beta of 1.01. FGL has a 12 month low of $5.93 and a 12 month high of $10.49.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 18th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, March 15th. FGL’s dividend payout ratio is presently 3.36%.

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

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 bought at an average price of $8.44 per share, for a total transaction of $422,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy Martin Walsh purchased 10,000 shares of FGL stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of $8.37 per share, for a total transaction of $83,700.00. The disclosure for this purchase can be found here. Insiders acquired 180,000 shares of company stock valued at $1,527,700 over the last three months. 21.50% of the stock is currently owned by insiders.

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FGL Company Profile

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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