Bank of America Corp DE lifted its position in shares of FGL Holdings (NYSE:FG) by 3,976.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 237,089 shares of the company’s stock after buying an additional 231,273 shares during the period. Bank of America Corp DE owned 0.11% of FGL worth $1,989,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of FGL during the first quarter valued at approximately $130,000. Amalgamated Bank purchased a new position in shares of FGL during the second quarter valued at approximately $161,000. Legal & General Group Plc purchased a new position in shares of FGL during the second quarter valued at approximately $183,000. JPMorgan Chase & Co. purchased a new position in shares of FGL during the first quarter valued at approximately $211,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of FGL during the second quarter valued at approximately $237,000. 72.65% of the stock is currently owned by institutional investors and hedge funds.
In other FGL news, Director Richard N. Massey acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, September 12th. The stock was bought at an average price of $8.76 per share, with a total value of $438,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher J. Littlefield acquired 30,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was acquired at an average cost of $8.74 per share, with a total value of $262,200.00. The disclosure for this purchase can be found here. Insiders have purchased 105,000 shares of company stock valued at $918,950 in the last ninety days. 21.50% of the stock is currently owned by company insiders.
FG has been the subject of several research analyst reports. Royal Bank of Canada initiated coverage on shares of FGL in a research report on Tuesday, July 17th. They set an “outperform” rating and a $10.00 price target for the company. Zacks Investment Research lowered shares of FGL from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. ValuEngine lowered shares of FGL from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Credit Suisse Group dropped their price target on shares of FGL from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. Finally, Goldman Sachs Group initiated coverage on shares of FGL in a research report on Tuesday, August 21st. They set a “neutral” rating and a $10.50 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. FGL presently has an average rating of “Hold” and an average price target of $10.45.
Shares of FG stock opened at $7.89 on Friday. FGL Holdings has a one year low of $7.54 and a one 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 issued its quarterly earnings results on Thursday, November 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $444.00 million for the quarter, compared to analyst estimates of $349.58 million. During the same period last year, the company posted $1.11 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts forecast that FGL Holdings will post 1.12 EPS for the current fiscal year.
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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