Rhumbline Advisers Acquires New Holdings in FGL Holdings (FG)
Rhumbline Advisers acquired a new position in FGL Holdings (NYSE:FG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 138,843 shares of the company’s stock, valued at approximately $1,165,000. Rhumbline Advisers owned about 0.06% of FGL as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in FGL during the 1st quarter worth approximately $130,000. Quantitative Systematic Strategies LLC acquired a new stake in FGL during the 1st quarter worth approximately $180,000. Amalgamated Bank acquired a new stake in FGL during the 2nd quarter worth approximately $161,000. Quantbot Technologies LP acquired a new stake in FGL during the 1st quarter worth approximately $197,000. Finally, JPMorgan Chase & Co. acquired a new stake in FGL during the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 72.44% of the company’s stock.
Shares of FG opened at $8.69 on Monday. FGL Holdings has a twelve month low of $8.14 and a twelve month high of $11.94. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.40.
A number of research firms have issued reports on FG. Zacks Investment Research lowered shares of FGL from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Royal Bank of Canada began coverage on shares of FGL in a report on Tuesday, July 17th. They set an “outperform” rating and a $10.00 target price on the stock. ValuEngine lowered shares of FGL from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Credit Suisse Group reduced their price objective on shares of FGL from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 17th. Finally, Goldman Sachs Group initiated coverage on shares of FGL in a report on Tuesday, August 21st. They issued a “neutral” rating and a $10.50 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. FGL presently has an average rating of “Hold” and a consensus price target of $10.45.
In related news, Director Richard N. Massey bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were purchased at an average cost of $8.76 per share, with a total value of $438,000.00. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dennis Vigneau bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was bought at an average cost of $8.75 per share, for a total transaction of $218,750.00. The disclosure for this purchase can be found here. 21.50% of the stock is currently owned by company insiders.
FGL Company Profile
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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