Fidelity & Guaranty Life Receives a Hold from J.P. Morgan

J.P. Morgan analyst Jimmy Bhullar reiterated a Hold rating on Fidelity & Guaranty Life (NYSE: FGL) yesterday and set a price target of $26. The company’s shares opened today at $23.14.

According to TipRanks.com, Bhullar is a 3-star analyst with an average return of 4.4% and a 50.0% success rate. Bhullar covers the Financial sector, focusing on stocks such as American Equity Investment Life, Symetra Financial Corp., and Lincoln National Corp.

Fidelity & Guaranty Life has an analyst consensus of Hold

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Based on Fidelity & Guaranty Life`s latest earnings report from June 30, the company posted quarterly revenue of $261M and quarterly net profit of $10M. In comparison, last year the company earned revenue of $326M and had a net profit of $86M.

Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2015, William Melchionni, a a Director at FGL sold 1,500 shares for a total of $32,000.

Fidelity & Guaranty Life is a holding company, which engages in the provision of fixed annuity and life insurance products. Through its subsidiaries, Fidelity & Guaranty Life Insurance Co. and Fidelity & Guaranty Life Insurance Co. of New York, it offers products distributed by independent agents through network of independent marketing organizations. The company was founded on August 3, 2010 and is headquartered in Des Moines, IA.