FGL (NYSE:FG) Releases Earnings Results

FGL (NYSE:FG) issued its earnings results on Wednesday. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.04, Briefing.com reports. The firm had revenue of $455.00 million for the quarter, compared to the consensus estimate of $381.83 million. FGL had a return on equity of 17.88% and a net margin of 20.16%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS.

NYSE:FG traded up $0.08 during trading hours on Thursday, hitting $9.15. 1,509,738 shares of the company were exchanged, compared to its average volume of 1,006,498. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 7.69 and a beta of 1.05. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.24. FGL has a one year low of $5.93 and a one year high of $9.87. The company has a fifty day simple moving average of $8.47 and a 200 day simple moving average of $8.24.

In related news, major shareholder Blackstone Group Inc bought 197,474 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $7.25 per share, with a total value of $1,431,686.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Patrick Baird bought 7,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $6.99 per share, with a total value of $48,930.00. Following the completion of the transaction, the director now owns 37,816 shares in the company, valued at $264,333.84. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,443,844 shares of company stock valued at $11,119,262. 15.10% of the stock is owned by corporate insiders.

FG has been the topic of several recent research reports. Zacks Investment Research raised FGL from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. TheStreet raised FGL from a “c+” rating to a “b” rating in a report on Wednesday, October 30th. UBS Group downgraded FGL from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Citigroup cut their price objective on FGL from $9.50 to $9.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $9.00.

About FGL

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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Earnings History for FGL (NYSE:FG)

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