Fidelity and Guaranty Life (FGL) Short Interest Up 65.3% in November

Fidelity and Guaranty Life (NYSE:FGL) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 3,363,795 shares, a growth of 65.3% from the October 31st total of 2,034,537 shares. Approximately 5.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 511,500 shares, the short-interest ratio is presently 6.6 days.

Fidelity and Guaranty Life (NYSE:FGL) opened at $31.10 on Thursday. The firm has a market capitalization of $1,830.00, a P/E ratio of 10.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.21 and a quick ratio of 0.21. Fidelity and Guaranty Life has a fifty-two week low of $23.20 and a fifty-two week high of $31.70.

Fidelity and Guaranty Life (NYSE:FGL) last posted its quarterly earnings results on Wednesday, November 15th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.43. The business had revenue of $435.00 million for the quarter, compared to analyst estimates of $319.00 million. Fidelity and Guaranty Life had a return on equity of 11.22% and a net margin of 14.02%. The business’s revenue was up 37.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. equities analysts forecast that Fidelity and Guaranty Life will post 2.72 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Monday, November 27th were given a $0.065 dividend. The ex-dividend date was Friday, November 24th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.84%. Fidelity and Guaranty Life’s dividend payout ratio (DPR) is 6.81%.

Separately, ValuEngine downgraded shares of Fidelity and Guaranty Life from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st.

A number of institutional investors have recently made changes to their positions in FGL. FMR LLC purchased a new stake in Fidelity and Guaranty Life in the 2nd quarter worth about $36,304,000. JPMorgan Chase & Co. raised its stake in shares of Fidelity and Guaranty Life by 5,004.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 821,707 shares of the financial services provider’s stock worth $25,514,000 after purchasing an additional 805,608 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new stake in shares of Fidelity and Guaranty Life during the 2nd quarter worth about $22,007,000. Omni Partners LLP purchased a new stake in shares of Fidelity and Guaranty Life during the 2nd quarter worth about $12,365,000. Finally, Phocas Financial Corp. bought a new position in shares of Fidelity and Guaranty Life in the 2nd quarter valued at approximately $5,783,000. 20.55% of the stock is owned by hedge funds and other institutional investors.

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Fidelity and Guaranty Life Company Profile

Fidelity & Guaranty Life (FGL) is a holding company focused on obtaining controlling equity stakes in companies that operate across various industries. FGL’s primary business is the sale of individual life insurance products and annuities through independent agents, managing general agents, and specialty brokerage firms and in selected institutional markets.

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