SA News • Fri, Jan. 16
Fri, Jan. 16, 8:18 AM
Nov. 19, 2014, 4:14 PM| Comment!
Nov. 18, 2014, 4:33 PM
Aug. 6, 2014, 6:24 PM
Aug. 5, 2014, 2:15 PM
May. 8, 2014, 5:23 PM| Comment!
May. 8, 2014, 12:30 PM
- Jefferies upgrades AmREIT (AMRE +1.5%) to Buy, and sets a $19 PT.
- First Financial Bankshares (FFIN +0.6%) is upgraded by Macquarie to Neutral.
- PennyMac Financial Services (PFSI +5.8%) is upgraded to Buy at Compass Point with $18.50 PT after Q1 results yesterday.
- Raymond James ups Main Street Capital (MAIN +0.3%) to Outperform with $34PT ahead of its quarterly earnings.
- CommonWealth REIT (CWH +1.2%) is downgraded to Sell by Stifel Nicolaus. Earlier: CommonWealth REIT beats by $0.01, beats on revenue
- UBS downgrades Deusteche Bank (DB +1.4%) to Neutral.
- Provident Financial Holdings (PROV -0.1%) is downgraded to Underperform by Raymond James.
- Evercore Partners downgrades Zion Bancorp (ZION +1.4%) to Equal Weight with $28 PT.
- Fidelity & Guaranty Life (FGL +0.3%) is cut to Neutral at Credit Suisse
May. 6, 2014, 9:41 AM
Apr. 16, 2014, 8:09 AM
- After a big run for Fidelity Guaranty (FGL) since its December IPO, Macquarie cashes in its chips on its Outperform call, downgrading the stock to Neutral with $24 price target.
- After pricing at $17 per share in mid-December, the stock closed yesterday at $23.29.
Mar. 4, 2014, 5:27 AM
Jan. 22, 2014, 8:18 AM
- Coverage begins on Fidelity & Guaranty Life (FGL) begins, with Credit Suisse and RBC Capital initiating with Buys, and JPMorgan a Hold.
- Noting the company's current ROE of about 8% lags peers, CS expects ROE to reach 10% by 2016 with room to grow further as FGL deploys its excess capital. The stock currently trades at 0.93x estimated 2015 book value vs. 1x for its competitors.
Dec. 13, 2013, 10:05 AM
- Fidelity & Guaranty Life (FGL) is at $18.50 in early trades after pricing its 9.7M share IPO at $17 each (expected range was $17-$19).
- The insurer is controlled by Philip Falcone's Harbinger Group (HRG +2.7%), but Falcone himself is banned from being an officer or director after a settlement with the SEC. The company is run by former MetLife exec Lee Launer.
- Falcone bought the company from Old Mutual Plc for about $350M in 2011 in a bet he could do a better job managing the insurer's portfolio.
FGL vs. ETF Alternatives
Fidelity and Guaranty Life is engaged in selling 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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