Fidelity & Guaranty Life (FGL) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.73 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.17. Analysts had a consensus of $0.56. The company posted revenue of $233.00 million in the period, compared to analysts expectations of $268.60 million. The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Fidelity & Guaranty Life opened for trading at $26.45 and hit $26.475 on the upside on Monday, eventually ending the session at $26.46, with a gain of 0.08% or 0.02 points. The heightened volatility saw the trading volume jump to 1,28,103 shares. Company has a market cap of $1,560 M.
In a different news, on Mar 4, 2015, William P. Melchionni (director) sold 1,500 shares at $21.31 per share price.
Fidelity & Guaranty Life is a holding company. The Company offers various types of fixed annuities and life insurance products through its insurance subsidiaries: Fidelity & Guaranty Life Insurance Company (FGLIC) and Fidelity & Guaranty Life Insurance Company of New York (FGL NY Insurance). In addition the Companys life insurance products provides its customers with a product that allows them to build on their savings and assign payment of a death benefit to a designated beneficiary upon the policyholders death. Its products are fixed indexed annuities (FIAs) which provide its customers with interest tied to the performance of the stock market. In addition to FIAs the Company also sells indexed universal life policies (IULs) and other fixed annuities. The Company offers its products through a network of approximately 200 independent insurance marketing organizations that in turn represent an estimated 20000 independent agents.