FGL Holdings (FG) to Issue Quarterly Dividend of $0.01 on April 1st

FGL Holdings (NYSE:FG) announced a quarterly dividend on Wednesday, February 27th, Zacks reports. Investors of record on Monday, March 18th will be given a dividend of 0.01 per share on Monday, April 1st. This represents a $0.04 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Friday, March 15th.

FGL has a dividend payout ratio of 2.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FGL to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.9%.

FG stock opened at $8.48 on Thursday. FGL has a fifty-two week low of $5.93 and a fifty-two week high of $10.74. 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 (NYSE:FG) last released its earnings results on Wednesday, February 27th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.07. FGL had a return on equity of 5.91% and a net margin of 3.74%. On average, analysts expect that FGL will post 1.12 EPS for the current fiscal year.

In related news, Director Richard N. Massey acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher O. Blunt acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $8.54 per share, with a total value of $854,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 180,000 shares of company stock valued at $1,527,700 over the last three months. Insiders own 21.50% of the company’s stock.

Several equities research analysts have recently commented on FG shares. Zacks Investment Research cut FGL from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. ValuEngine cut FGL from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 2nd. Finally, Citigroup started coverage on FGL in a research note on Friday, December 7th. They issued a “neutral” rating and a $8.50 target price for the company. One research 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 stock presently has a consensus rating of “Hold” and an average price target 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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