EF Hutton Reiterates Reliance Global Group (RELI) Buy Recommendation
Fintel reports that on June 28, 2023, EF Hutton reiterated coverage of Reliance Global Group (NASDAQ:RELI) with a Buy recommendation.
Analyst Price Forecast Suggests 54.55% Upside
As of June 2, 2023, the average one-year price target for Reliance Global Group is 7.14. The forecasts range from a low of 7.07 to a high of $7.35. The average price target represents an increase of 54.55% from its latest reported closing price of 4.62.
See our leaderboard of companies with the largest price target upside.
What is the Fund Sentiment?
There are 9 funds or institutions reporting positions in Reliance Global Group. This is a decrease of 16 owner(s) or 64.00% in the last quarter. Average portfolio weight of all funds dedicated to RELI is 0.01%, a decrease of 22.76%. Total shares owned by institutions decreased in the last three months by 41.79% to 1,073K shares.
What are Other Shareholders Doing?
PEIFX - PIMCO RAE Emerging Markets Fund Institutional Class holds 836K shares representing 53.39% ownership of the company. No change in the last quarter.
QCSTRX - Stock Account Class R1 holds 151K shares representing 9.67% ownership of the company. In it's prior filing, the firm reported owning 217K shares, representing a decrease of 43.36%. The firm decreased its portfolio allocation in RELI by 29.51% over the last quarter.
FSMAX - Fidelity Extended Market Index Fund holds 55K shares representing 3.53% ownership of the company. In it's prior filing, the firm reported owning 55K shares, representing a decrease of 0.16%. The firm decreased its portfolio allocation in RELI by 26.47% over the last quarter.
MFEM - PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF holds 13K shares representing 0.84% ownership of the company. In it's prior filing, the firm reported owning 7K shares, representing an increase of 44.20%. The firm increased its portfolio allocation in RELI by 60.28% over the last quarter.
FCFMX - Fidelity Series Total Market Index Fund holds 7K shares representing 0.47% ownership of the company. No change in the last quarter.
Reliance Global Group Background Information
(This description is provided by the company.)
Reliance Global Group, Inc. is moving forward with its goal to operate in the insurance sector through its insurance brokerage agencies and online insurance businesses, and potentially other sectors. RELI's focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opportunities, including insurance agencies. Insurance agencies, as opposed to insurance carriers, bear no insurance risk. The Company is controlled by Reliance Global Holdings, LLC, a New York-based limited liability company, which is the owner and operator of numerous companies with core interests invested in real estate and insurance brokerage.
Key filings for this company:
This story originally appeared on Fintel.