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

FGL Holdings (NYSE:FG) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 3,948,100 shares, a drop of 12.7% from the June 30th total of 4,520,800 shares. Based on an average daily trading volume, of 702,500 shares, the short-interest ratio is currently 5.6 days. Approximately 2.4% of the company’s stock are sold short.

In other FGL news, major shareholder Blackstone Group Inc purchased 197,474 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $7.25 per share, for a total transaction of $1,431,686.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher O. Blunt purchased 110,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $7.34 per share, for a total transaction of $807,400.00. The disclosure for this purchase can be found here. 15.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC increased its position in FGL by 43.3% in the 1st quarter. Quantamental Technologies LLC now owns 4,300 shares of the company’s stock valued at $34,000 after acquiring an additional 1,300 shares during the period. PNC Financial Services Group Inc. increased its position in FGL by 10,630.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,614 shares of the company’s stock valued at $36,000 after acquiring an additional 4,571 shares during the period. Global Retirement Partners LLC acquired a new position in FGL in the 1st quarter valued at about $39,000. Point72 Asset Management L.P. acquired a new position in FGL in the 2nd quarter valued at about $44,000. Finally, Financial Gravity Wealth Inc. increased its position in FGL by 303.0% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 5,686 shares of the company’s stock valued at $48,000 after acquiring an additional 4,275 shares during the period. Institutional investors and hedge funds own 69.18% of the company’s stock.

A number of analysts have weighed in on the company. Zacks Investment Research cut FGL from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. ValuEngine cut FGL from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Finally, Citigroup set a $10.00 target price on FGL and gave the stock a “hold” rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.88.

Shares of FG traded up $0.39 during midday trading on Thursday, reaching $7.38. 762,181 shares of the stock were exchanged, compared to its average volume of 831,425. The business’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. FGL has a twelve month low of $5.93 and a twelve month high of $9.41. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 6.20 and a beta of 1.02.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, August 23rd. FGL’s dividend payout ratio (DPR) is currently 3.36%.

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.

Read More: Price to Earnings Ratio (PE) Basics

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