FGL Holdings (FG) To Go Ex-Dividend on August 23rd

FGL Holdings (NYSE:FG) announced a quarterly dividend on Wednesday, August 7th, NASDAQ reports. Stockholders of record on Monday, August 26th will be given a dividend of 0.01 per share on Monday, September 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, August 23rd.

FGL has a payout ratio of 2.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FGL to earn $1.67 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 2.4%.

FG opened at $7.54 on Wednesday. The stock has a fifty day moving average of $7.92 and a 200-day moving average of $8.19. The firm has a market capitalization of $1.69 billion, a P/E ratio of 6.34 and a beta of 1.02. FGL has a 12-month low of $5.93 and a 12-month high of $9.31. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.24.

FGL (NYSE:FG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). FGL had a return on equity of 17.88% and a net margin of 20.16%. The firm had revenue of $495.00 million for the quarter, compared to analysts’ expectations of $374.03 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. FGL’s revenue was up 45.6% on a year-over-year basis. On average, analysts expect that FGL will post 1.37 earnings per share for the current fiscal year.

In other FGL news, major shareholder Blackstone Group Inc bought 242,614 shares of the stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of $7.59 per share, with a total value of $1,841,440.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher O. Blunt bought 110,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $7.34 per share, for a total transaction of $807,400.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 550,088 shares of company stock valued at $4,080,527. 15.10% of the stock is owned by corporate insiders.

Several analysts recently issued reports on FG shares. ValuEngine lowered FGL from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Citigroup set a $10.00 price objective on FGL and gave the stock a “hold” rating in a report on Thursday, May 23rd. Finally, Zacks Investment Research lowered FGL from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $9.83.

FGL Company Profile

FGL Holdings 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 reinsurance on asset intensive, long duration life, and annuity liabilities, such as fixed, deferred and payout annuities, long-term care, group long-term disability, and cash value life insurance.

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