FGL Holdings (NYSE:FG) Short Interest Down 12.7% in July

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FGL Holdings (NYSE:FG) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 3,948,100 shares, a decline of 12.7% from the June 30th total of 4,520,800 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily volume of 702,500 shares, the short-interest ratio is presently 5.6 days.

FG traded up $0.39 during trading on Thursday, hitting $7.38. The company’s stock had a trading volume of 762,181 shares, compared to its average volume of 831,425. The firm’s 50 day moving average price is $7.98 and its 200-day moving average price is $8.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.21 and a quick ratio of 0.21. The stock has a market cap of $1.63 billion, a PE ratio of 6.20 and a beta of 1.02. FGL has a twelve month low of $5.93 and a twelve month high of $9.41.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be issued a $0.01 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.04 annualized dividend and a yield of 0.54%. FGL’s dividend payout ratio (DPR) is presently 3.36%.

FG has been the subject of several analyst reports. ValuEngine downgraded FGL from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research downgraded FGL from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Citigroup set a $10.00 price target on FGL and gave the company a “hold” rating in a report on Thursday, May 23rd. 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 an average rating of “Hold” and a consensus target price of $9.88.

In related news, insider Christopher O. Blunt acquired 110,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $7.34 per share, for a total transaction of $807,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Blackstone Group Inc acquired 197,474 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $7.25 per share, with a total value of $1,431,686.50. The disclosure for this purchase can be found here. Insiders own 15.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nuveen Asset Management LLC bought a new position in shares of FGL during the second quarter worth about $17,712,000. UBS Asset Management Americas Inc. lifted its position in shares of FGL by 53.6% during the second quarter. UBS Asset Management Americas Inc. now owns 154,440 shares of the company’s stock worth $1,297,000 after purchasing an additional 53,881 shares during the last quarter. Citadel Advisors LLC lifted its position in shares of FGL by 3,076.9% during the second quarter. Citadel Advisors LLC now owns 1,673,140 shares of the company’s stock worth $14,054,000 after purchasing an additional 1,620,475 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of FGL during the second quarter worth about $550,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of FGL by 19.0% during the second quarter. Cubist Systematic Strategies LLC now owns 72,076 shares of the company’s stock worth $605,000 after purchasing an additional 11,525 shares during the last quarter. Institutional investors own 69.18% of the company’s stock.

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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