Teacher Retirement System of Texas purchased a new position in FGL Holdings (NYSE:FG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,270 shares of the company’s stock, valued at approximately $237,000.
Several other large investors also recently modified their holdings of FG. BlackRock Inc. increased its holdings in shares of FGL by 347.4% in the 1st quarter. BlackRock Inc. now owns 3,111,538 shares of the company’s stock worth $31,582,000 after buying an additional 2,415,996 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of FGL by 65.8% in the 1st quarter. Franklin Resources Inc. now owns 1,417,200 shares of the company’s stock worth $14,384,000 after buying an additional 562,500 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of FGL in the 1st quarter worth $4,293,000. Northern Trust Corp bought a new position in shares of FGL during the 1st quarter valued at $2,721,000. Finally, Millennium Management LLC grew its holdings in shares of FGL by 136.6% during the 1st quarter. Millennium Management LLC now owns 405,999 shares of the company’s stock valued at $4,121,000 after purchasing an additional 234,395 shares during the last quarter. 72.67% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. ValuEngine raised shares of FGL from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Credit Suisse Group reduced their target price 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. Goldman Sachs Group assumed coverage on shares of FGL in a report on Tuesday, August 21st. They set a “neutral” rating and a $10.50 target price on the stock. Zacks Investment Research raised shares of FGL from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a report on Wednesday, July 18th. Finally, Royal Bank of Canada assumed 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $10.45.
Shares of FG opened at $8.68 on Friday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.40. FGL Holdings has a twelve month low of $8.14 and a twelve month high of $11.94.
FGL (NYSE:FG) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm had revenue of $340.00 million for the quarter, compared to analysts’ expectations of $330.53 million. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. research analysts expect that FGL Holdings will post 1.13 EPS for the current fiscal year.
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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