FGL (FG) Upgraded to C at TheStreet

FGL (NYSE:FG) was upgraded by equities researchers at TheStreet from an “e+” rating to a “c” rating in a research report issued on Thursday.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised FGL from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research note on Monday, September 3rd. ValuEngine raised FGL from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Goldman Sachs Group assumed coverage on FGL in a research note on Tuesday, August 21st. They set a “neutral” rating and a $10.50 price objective for the company. Credit Suisse Group reduced their price objective on FGL from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, August 17th. Finally, Royal Bank of Canada assumed coverage on FGL in a research note on Tuesday, July 17th. They set an “outperform” rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $10.45.

Shares of NYSE FG opened at $7.89 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.20 and a quick ratio of 0.20. FGL has a 1 year low of $7.54 and a 1 year high of $10.74.

FGL (NYSE:FG) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $444.00 million during the quarter, compared to analyst estimates of $349.58 million. FGL had a return on equity of 10.97% and a net margin of 6.09%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.11 EPS. Research analysts forecast that FGL will post 1.12 EPS for the current fiscal year.

In other FGL news, insider Christopher J. Littlefield bought 30,000 shares of FGL stock in a transaction dated Friday, September 14th. The stock was bought at an average price of $8.74 per share, for a total transaction of $262,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Massey bought 50,000 shares of FGL stock in a transaction dated Wednesday, September 12th. The stock was acquired at an average price of $8.76 per share, with a total value of $438,000.00. The disclosure for this purchase can be found here. Insiders bought 105,000 shares of company stock valued at $918,950 in the last 90 days. Corporate insiders own 21.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FG. Fox Run Management L.L.C. purchased a new stake in shares of FGL in the third quarter valued at $112,000. Zeke Capital Advisors LLC purchased a new stake in shares of FGL in the third quarter valued at $132,000. FNY Investment Advisers LLC purchased a new stake in shares of FGL in the third quarter valued at $134,000. Amalgamated Bank purchased a new stake in shares of FGL in the second quarter valued at $161,000. Finally, Legal & General Group Plc purchased a new stake in shares of FGL in the second quarter valued at $183,000. Institutional investors own 72.65% of the company’s stock.

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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