Bank of New York Mellon Corp increased its position in Fidelity & Guaranty Life (NYSE:FGL) by 40.8% during the second quarter, Holdings Channel reports. The institutional investor owned 141,107 shares of the company’s stock after buying an additional 40,910 shares during the period. Bank of New York Mellon Corp owned about 0.24% of Fidelity & Guaranty Life worth $3,271,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Group LTD increased its stake in Fidelity & Guaranty Life by 5.4% in the first quarter. BlackRock Group LTD now owns 45,012 shares of the company’s stock worth $1,182,000 after buying an additional 2,311 shares in the last quarter. OMERS ADMINISTRATION Corp increased its stake in Fidelity & Guaranty Life by 28.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 108,000 shares of the company’s stock worth $2,834,000 after buying an additional 24,100 shares in the last quarter. State Street Corp increased its stake in Fidelity & Guaranty Life by 1.5% in the first quarter. State Street Corp now owns 190,015 shares of the company’s stock worth $4,985,000 after buying an additional 2,748 shares in the last quarter. UBS Group AG increased its stake in Fidelity & Guaranty Life by 6,520.0% in the first quarter. UBS Group AG now owns 39,985 shares of the company’s stock worth $1,049,000 after buying an additional 39,381 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Fidelity & Guaranty Life by 0.8% in the first quarter. Geode Capital Management LLC now owns 79,293 shares of the company’s stock worth $2,080,000 after buying an additional 609 shares in the last quarter. 23.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fidelity & Guaranty Life (NYSE:FGL) traded up 0.30% during trading on Friday, reaching $23.19. 132,995 shares of the company’s stock were exchanged. Fidelity & Guaranty Life has a 52 week low of $21.42 and a 52 week high of $27.87. The firm has a market capitalization of $1.35 billion, a PE ratio of 14.05 and a beta of 0.77. The company’s 50-day moving average price is $23.34 and its 200 day moving average price is $24.06.
Fidelity & Guaranty Life (NYSE:FGL) last issued its earnings results on Tuesday, August 2nd. The company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.26. The company had revenue of $261 million for the quarter, compared to analysts’ expectations of $254.50 million. Fidelity & Guaranty Life had a net margin of 9.97% and a return on equity of 10.59%. The firm’s revenue was down 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 earnings per share. Analysts predict that Fidelity & Guaranty Life will post $2.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 22nd were issued a dividend of $0.065 per share. The ex-dividend date was Thursday, August 18th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.12%. Fidelity & Guaranty Life’s dividend payout ratio (DPR) is 15.76%.
Separately, JPMorgan Chase & Co. reissued a “hold” rating and set a $26.00 price objective on shares of Fidelity & Guaranty Life in a report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $25.50.
About Fidelity & Guaranty Life
Fidelity & Guaranty Life, formerly Harbinger F&G, LLC, is a holding company. The Company’s primary business is the sale of individual life insurance products and annuities through independent agents, managing general agents and brokerage firms in selected institutional markets. Its product types include fixed indexed annuities, fixed rate annuities, single premium immediate annuities (SPIAs) and life insurance, such as Universal Life and traditional life insurance products.
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