Renaissance Technologies LLC Sells 904,700 Shares of FGL Holdings (FG)

Renaissance Technologies LLC lessened its holdings in shares of FGL Holdings (NYSE:FG) by 83.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,300 shares of the company’s stock after selling 904,700 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of FGL worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in FGL in the first quarter valued at $130,000. Amalgamated Bank purchased a new position in FGL in the second quarter valued at $161,000. Legal & General Group Plc purchased a new position in FGL in the second quarter valued at $183,000. JPMorgan Chase & Co. purchased a new position in FGL in the first quarter valued at $211,000. Finally, Teacher Retirement System of Texas purchased a new position in FGL in the second quarter valued at $237,000. 72.49% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the stock. ValuEngine raised shares of FGL from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Zacks Investment Research upgraded shares of FGL from a “hold” rating to a “strong-buy” rating and set a $10.00 target price on the stock in a research report on Wednesday, July 18th. Credit Suisse Group dropped their target price on shares of FGL from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Royal Bank of Canada started coverage on shares of FGL in a research report on Tuesday, July 17th. They issued an “outperform” rating and a $10.00 target price on the stock. Finally, Goldman Sachs Group started coverage on shares of FGL in a research report on Tuesday, August 21st. They issued a “neutral” rating and a $10.50 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. FGL currently has a consensus rating of “Hold” and an average target price of $10.45.

In other FGL news, insider Christopher J. Littlefield purchased 30,000 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were purchased at an average cost of $8.74 per share, for a total transaction of $262,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dennis Vigneau purchased 25,000 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were 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 quarter, insiders bought 105,000 shares of company stock worth $918,950. Company insiders own 21.50% of the company’s stock.

Shares of NYSE FG opened at $7.59 on Tuesday. FGL Holdings has a 52-week low of $7.54 and a 52-week high of $11.10. 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 (NYSE:FG) last announced its earnings results on Thursday, August 9th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $340.00 million during the quarter, compared to analyst estimates of $330.53 million. During the same quarter last year, the business earned $0.72 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that FGL Holdings will post 1.12 earnings per share for the current year.

FGL 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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Institutional Ownership by Quarter for FGL (NYSE:FG)

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