New York State Common Retirement Fund reduced its holdings in shares of FGL Holdings (NYSE:FG) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 139,100 shares of the company’s stock after selling 7,000 shares during the period. New York State Common Retirement Fund owned about 0.06% of FGL worth $926,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. California Public Employees Retirement System grew its position in FGL by 379.0% in the fourth quarter. California Public Employees Retirement System now owns 126,384 shares of the company’s stock worth $842,000 after acquiring an additional 100,000 shares during the period. Acadian Asset Management LLC grew its position in FGL by 55.5% in the fourth quarter. Acadian Asset Management LLC now owns 508,545 shares of the company’s stock worth $3,386,000 after acquiring an additional 181,464 shares during the period. Prudential Financial Inc. grew its position in FGL by 36.4% in the fourth quarter. Prudential Financial Inc. now owns 529,685 shares of the company’s stock worth $3,528,000 after acquiring an additional 141,325 shares during the period. Virginia Retirement Systems ET AL purchased a new position in FGL in the fourth quarter worth approximately $816,000. Finally, River Road Asset Management LLC grew its position in FGL by 35.3% in the fourth quarter. River Road Asset Management LLC now owns 4,327,049 shares of the company’s stock worth $28,818,000 after acquiring an additional 1,129,241 shares during the period. 71.71% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on the company. Zacks Investment Research cut FGL from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. ValuEngine cut FGL from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.35.
FGL (NYSE:FG) last released its quarterly earnings results on Friday, March 1st. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. FGL had a return on equity of 5.91% and a net margin of 18.33%. The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $351.54 million. On average, sell-side analysts expect that FGL Holdings will post 1.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 18th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Friday, March 15th. FGL’s payout ratio is currently 3.36%.
In related news, insider Christopher O. Blunt acquired 20,000 shares of FGL stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $8.40 per share, for a total transaction of $168,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy Martin Walsh acquired 10,000 shares of FGL stock in a transaction dated Friday, March 8th. The stock was bought at an average price of $8.37 per share, for a total transaction of $83,700.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 180,000 shares of company stock worth $1,527,700. Insiders own 15.10% of the company’s stock.
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FGL Holdings 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 reinsurance on asset intensive, long duration life, and annuity liabilities, such as fixed, deferred and payout annuities, long-term care, group long-term disability, and cash value life insurance.
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