The Manufacturers Life Insurance Company Takes $6.19 Million Position in Ethos Technologies Inc. Class A Common Stock $LIFE

Key Points

• The Manufacturers Life Insurance Company initiated a $6.19 million position in Ethos Technologies, purchasing 341,279 shares and acquiring a 0.54% stake.
• Ethos reported quarterly EPS of $0.53, beating the $0.19 consensus estimate, while revenue rose 113.5% year over year to $189.56 million.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $32.29 target price, although insiders sold 928,107 shares worth approximately $24.8 million over the past 90 days.

The Manufacturers Life Insurance Company bought a new position in shares of Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 341,279 shares of the company's stock, valued at approximately $6,191,000. The Manufacturers Life Insurance Company owned 0.54% of Ethos Technologies Inc. Class A Common Stock at the end of the most recent quarter.

Ethos Technologies Inc. Class A Common Stock Stock Performance

Shares of LIFE stock opened at $40.25 on Monday. The stock has a market capitalization of $2.57 billion and a PE ratio of -14.12. The business has a fifty day moving average price of $28.81. Ethos Technologies Inc. Class A Common Stock has a twelve month low of $9.45 and a twelve month high of $42.55.

Ethos Technologies Inc. Class A Common Stock (NASDAQ:LIFE - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.19 by $0.34. The firm had revenue of $189.56 million for the quarter. The firm's revenue for the quarter was up 113.5% on a year-over-year basis. As a group, equities research analysts predict that Ethos Technologies Inc. Class A Common Stock will post -2.04 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on LIFE shares. William Blair set a $33.00 price target on Ethos Technologies Inc. Class A Common Stock in a research report on Tuesday, August 4th. The Goldman Sachs Group reissued a "buy" rating and set a $35.00 target price on shares of Ethos Technologies Inc. Class A Common Stock in a research note on Tuesday, August 4th. Robert W. Baird upped their target price on Ethos Technologies Inc. Class A Common Stock from $26.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. Wall Street Zen raised Ethos Technologies Inc. Class A Common Stock from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Barclays lifted their price target on shares of Ethos Technologies Inc. Class A Common Stock from $27.00 to $37.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.29.

Insider Activity at Ethos Technologies Inc. Class A Common Stock

In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the business's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Us (Ttgp) Ltd. Sc sold 107,795 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $33.12, for a total transaction of $3,570,170.40. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 928,107 shares of company stock worth $24,825,665 over the last 90 days.

Ethos Technologies Inc. Class A Common Stock Profile

Ethos Technologies Inc is a special purpose acquisition company (SPAC) whose Class A common stock trades on the Nasdaq Stock Market under the symbol LIFE. The company was formed to identify and complete a business combination, such as a merger, share exchange, asset acquisition, or similar transaction, with an operating business.

Unlike an operating company, Ethos Technologies does not currently appear to have established products, services, or significant commercial operations of its own.

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