AFFM sells retail agency business (about $200 million in premium) for $120million. ($100 mill plus $20million contingent on AFFM insurance company maintain a 350% RBC ratio.) This is just for retail agency does not include insurance company or any surplus associated with insurance company. On this basis FAC has an enterprise value of $190million ( $120 million for retail and $70 million for insurance company (at book value). Equity market cap would be $150 million or $3.65 per share. More than twice the current price.
It certainly appears there are large blocks of shares shifting. While for every buyer there is a seller, the bias appears to be on the buy side of the large shifts in ownership. Good things are coming for FAC, can't you feel it?
It is time for a nice 2 or 3 point sustained rally. Something north of $4 up toward $5.