FGL Holdings (NYSE:FG) Short Interest Up 18.0% in December

FGL Holdings (NYSE:FG) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 6,300,000 shares, a growth of 18.0% from the December 15th total of 5,340,000 shares. Based on an average daily volume of 1,680,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.8% of the shares of the company are sold short.

A number of brokerages have recently commented on FG. Goldman Sachs Group cut shares of FGL from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $8.60 to $9.00 in a research note on Wednesday, January 8th. Zacks Investment Research raised shares of FGL from a “sell” rating to a “hold” rating in a research note on Wednesday, December 18th. TheStreet raised shares of FGL from a “c+” rating to a “b” rating in a research note on Wednesday, October 30th. Finally, UBS Group cut shares of FGL from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.00.

Several large investors have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of FGL by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 227,231 shares of the company’s stock valued at $1,813,000 after buying an additional 2,793 shares in the last quarter. Royal Bank of Canada lifted its position in shares of FGL by 723.5% during the 2nd quarter. Royal Bank of Canada now owns 4,826 shares of the company’s stock valued at $40,000 after buying an additional 4,240 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of FGL by 5.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 92,719 shares of the company’s stock valued at $739,000 after buying an additional 4,392 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of FGL during the 2nd quarter valued at approximately $44,000. Finally, Parametric Portfolio Associates LLC lifted its position in shares of FGL by 3.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 172,711 shares of the company’s stock valued at $1,451,000 after buying an additional 6,402 shares in the last quarter. Hedge funds and other institutional investors own 67.89% of the company’s stock.

Shares of NYSE FG traded down $0.02 during midday trading on Tuesday, reaching $9.97. 674,532 shares of the stock were exchanged, compared to its average volume of 1,147,739. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 8.38 and a beta of 1.11. FGL has a twelve month low of $6.31 and a twelve month high of $10.80. The firm has a 50-day simple moving average of $9.77 and a two-hundred day simple moving average of $8.65. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.22.

FGL (NYSE:FG) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $381.83 million. FGL had a net margin of 20.56% and a return on equity of 16.53%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. Research analysts expect that FGL will post 1.34 EPS for the current fiscal year.

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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