Acadian Asset Management LLC increased its position in shares of FGL Holdings (NYSE:FG) by 980.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 327,081 shares of the company’s stock after buying an additional 296,801 shares during the quarter. Acadian Asset Management LLC owned about 0.15% of FGL worth $2,928,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Fox Run Management L.L.C. bought a new position in shares of FGL in the third quarter valued at approximately $112,000. Dynamic Technology Lab Private Ltd bought a new position in FGL during the first quarter valued at $130,000. FNY Investment Advisers LLC bought a new position in FGL during the third quarter valued at $134,000. Amalgamated Bank bought a new position in FGL during the second quarter valued at $161,000. Finally, JPMorgan Chase & Co. bought a new position in FGL during the first quarter valued at $211,000. 72.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE FG opened at $7.89 on Friday. FGL Holdings has a 1-year low of $7.54 and a 1-year high of $10.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.20 and a current ratio of 0.20.
FGL (NYSE:FG) last announced its quarterly earnings data on Thursday, November 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $444.00 million for the quarter, compared to the consensus estimate of $349.58 million. FGL’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.11 earnings per share. Analysts expect that FGL Holdings will post 1.12 EPS for the current fiscal year.
In other FGL news, insider Christopher J. Littlefield acquired 30,000 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were bought at an average price of $8.74 per share, for a total transaction of $262,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dennis Vigneau acquired 25,000 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was acquired at an average price of $8.75 per share, for a total transaction of $218,750.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 105,000 shares of company stock worth $918,950. Company insiders own 21.50% of the company’s stock.
Several equities analysts have weighed in on FG shares. Royal Bank of Canada started coverage on FGL in a report on Tuesday, July 17th. They set an “outperform” rating and a $10.00 price objective for the company. Zacks Investment Research raised FGL from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective for the company in a report on Wednesday, July 18th. ValuEngine lowered FGL from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Credit Suisse Group reduced their price objective on FGL from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 17th. Finally, Goldman Sachs Group started coverage on FGL in a report on Tuesday, August 21st. They set a “neutral” rating and a $10.50 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. FGL has a consensus rating of “Hold” and an average target price of $10.45.
FGL Holdings, through its subsidiaries, 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 life and annuity reinsurance services, such as reinsurance on asset intensive, long duration life, and annuity liabilities.
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