FGL (FG) Given a $10.00 Price Target at Citigroup

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FGL (NYSE:FG) has been assigned a $10.00 target price by equities research analysts at Citigroup in a research report issued to clients and investors on Thursday, TipRanks reports. The brokerage presently has a “hold” rating on the stock. Citigroup‘s price objective would suggest a potential upside of 15.61% from the stock’s previous close.

Separately, Zacks Investment Research raised shares of FGL from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. FGL presently has a consensus rating of “Hold” and an average price target of $9.65.

Shares of FG traded down $0.17 during trading hours on Thursday, hitting $8.65. The stock had a trading volume of 10,305 shares, compared to its average volume of 829,998. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.20 and a quick ratio of 0.20. FGL has a fifty-two week low of $5.93 and a fifty-two week high of $9.63. The stock has a market cap of $1.96 billion, a P/E ratio of 7.27 and a beta of 1.05.

FGL (NYSE:FG) last posted its earnings results on Tuesday, May 7th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. FGL had a net margin of 20.50% and a return on equity of 20.91%. The firm had revenue of $600.00 million during the quarter, compared to analysts’ expectations of $368.89 million. During the same period in the previous year, the business posted $0.28 EPS. Equities analysts expect that FGL will post 1.41 EPS for the current year.

In related news, insider Christopher O. Blunt purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average price of $8.40 per share, with a total value of $168,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy Martin Walsh purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average cost of $8.37 per share, with a total value of $83,700.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 180,000 shares of company stock valued at $1,527,700. 15.10% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp purchased a new stake in shares of FGL during the fourth quarter worth $342,000. Geode Capital Management LLC grew its holdings in shares of FGL by 14.1% during the fourth quarter. Geode Capital Management LLC now owns 1,829,751 shares of the company’s stock worth $12,185,000 after buying an additional 226,275 shares in the last quarter. MFN Partners Management LP purchased a new stake in shares of FGL during the fourth quarter worth $2,429,000. AQR Capital Management LLC purchased a new stake in shares of FGL during the third quarter worth $653,000. Finally, Raymond James & Associates grew its holdings in shares of FGL by 193.9% during the fourth quarter. Raymond James & Associates now owns 1,184,430 shares of the company’s stock worth $7,888,000 after buying an additional 781,449 shares in the last quarter. 72.44% of the stock is owned by institutional investors and hedge funds.

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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