Confluence Investment Management LLC Takes $3.74 Million Position in F&G Annuities & Life, Inc. $FG

Confluence Investment Management LLC bought a new position in shares of F&G Annuities & Life, Inc. (NYSE:FG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 121,300 shares of the company’s stock, valued at approximately $3,742,000.

Other hedge funds have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its position in F&G Annuities & Life by 18.3% during the second quarter. Ameritas Investment Partners Inc. now owns 2,174 shares of the company’s stock valued at $70,000 after buying an additional 337 shares in the last quarter. Stoneridge Investment Partners LLC increased its position in shares of F&G Annuities & Life by 6.7% in the third quarter. Stoneridge Investment Partners LLC now owns 6,869 shares of the company’s stock worth $215,000 after acquiring an additional 429 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of F&G Annuities & Life by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,035 shares of the company’s stock valued at $398,000 after acquiring an additional 452 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of F&G Annuities & Life by 83.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,211 shares of the company’s stock valued at $38,000 after acquiring an additional 552 shares in the last quarter. Finally, Crescent Grove Advisors LLC lifted its holdings in shares of F&G Annuities & Life by 2.3% during the 2nd quarter. Crescent Grove Advisors LLC now owns 33,494 shares of the company’s stock valued at $1,071,000 after acquiring an additional 745 shares in the last quarter. Hedge funds and other institutional investors own 95.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FG. Barclays set a $31.00 price target on shares of F&G Annuities & Life in a research report on Thursday, January 8th. Wall Street Zen upgraded F&G Annuities & Life from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Monday, December 29th. Finally, Zacks Research lowered F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $32.00.

F&G Annuities & Life Stock Performance

FG stock opened at $23.54 on Friday. The stock’s 50 day simple moving average is $25.96 and its 200 day simple moving average is $29.68. F&G Annuities & Life, Inc. has a 12-month low of $20.57 and a 12-month high of $37.19. The firm has a market cap of $3.19 billion, a P/E ratio of 12.86 and a beta of 1.59. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.45.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.43). F&G Annuities & Life had a return on equity of 10.48% and a net margin of 4.62%.The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $1.55 billion. As a group, equities research analysts predict that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 17th. This represents a $1.00 annualized dividend and a yield of 4.2%. F&G Annuities & Life’s dividend payout ratio is 54.64%.

F&G Annuities & Life declared that its board has initiated a share buyback plan on Monday, March 16th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other F&G Annuities & Life news, Director Celina J. Wang Doka bought 4,760 shares of the business’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $20.98 per share, with a total value of $99,864.80. Following the completion of the acquisition, the director directly owned 32,071 shares of the company’s stock, valued at approximately $672,849.58. The trade was a 17.43% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher O. Blunt bought 10,000 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was bought at an average price of $20.99 per share, with a total value of $209,900.00. Following the completion of the purchase, the chief executive officer owned 1,107,128 shares of the company’s stock, valued at $23,238,616.72. This trade represents a 0.91% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 19,760 shares of company stock worth $457,565. 2.10% of the stock is owned by company insiders.

F&G Annuities & Life Company Profile

F&G Annuities & Life is the principal life insurance and annuity subsidiary of F&G Financial Group, Inc (NYSE: FG), a publicly traded financial services holding company headquartered in Des Moines, Iowa. The company focuses on designing and issuing retirement income solutions that address longevity risk, capital preservation, and wealth transfer for individual and institutional clients.

Its product suite includes fixed indexed annuities, which offer the potential for market-linked growth with downside protection; fixed-rate annuities, delivering guaranteed interest over a defined term; and a range of life insurance policies such as term, universal, and variable universal life.