Thompson Siegel & Walmsley LLC Takes $1.52 Million Position in F&G Annuities & Life, Inc. $FG

Thompson Siegel & Walmsley LLC bought a new stake in shares of F&G Annuities & Life, Inc. (NYSE:FG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 49,126 shares of the company’s stock, valued at approximately $1,516,000.

Several other hedge funds have also modified their holdings of the stock. Peapack Gladstone Financial Corp lifted its holdings in shares of F&G Annuities & Life by 88.2% during the fourth quarter. Peapack Gladstone Financial Corp now owns 149,384 shares of the company’s stock valued at $4,609,000 after purchasing an additional 70,026 shares during the last quarter. Nomura Asset Management Co. Ltd. purchased a new stake in shares of F&G Annuities & Life during the fourth quarter valued at $149,000. Verity & Verity LLC purchased a new stake in shares of F&G Annuities & Life during the fourth quarter valued at $467,000. Railway Pension Investments Ltd purchased a new stake in shares of F&G Annuities & Life during the fourth quarter valued at $178,000. Finally, Forsta AP Fonden purchased a new stake in shares of F&G Annuities & Life during the fourth quarter valued at $168,000. 95.86% of the stock is owned by hedge funds and other institutional investors.

F&G Annuities & Life Stock Performance

Shares of FG stock opened at $27.53 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.29 and a quick ratio of 0.29. F&G Annuities & Life, Inc. has a fifty-two week low of $20.57 and a fifty-two week high of $36.70. The stock’s 50-day moving average is $26.80 and its two-hundred day moving average is $28.07. The firm has a market cap of $3.65 billion, a P/E ratio of 7.23 and a beta of 1.22.

F&G Annuities & Life (NYSE:FG) last issued its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.08). F&G Annuities & Life had a return on equity of 10.73% and a net margin of 8.89%.The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $1.46 billion. Analysts predict that F&G Annuities & Life, Inc. will post 3.78 earnings per share for the current fiscal year.

F&G Annuities & Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 16th. F&G Annuities & Life’s dividend payout ratio is presently 26.25%.

F&G Annuities & Life declared that its Board of Directors has approved a share buyback plan on Monday, March 16th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

FG has been the subject of several analyst reports. Wall Street Zen downgraded F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Barclays reduced their target price on F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Zacks Research raised F&G Annuities & Life to a “hold” rating in a research note on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Friday, March 27th. Finally, Raymond James Financial initiated coverage on F&G Annuities & Life in a research note on Wednesday, May 6th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, F&G Annuities & Life presently has a consensus rating of “Hold” and an average price target of $30.00.

Insider Activity

In other news, Director Celina J. Wang Doka bought 4,760 shares of the company’s stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $20.98 per share, with a total value of $99,864.80. Following the transaction, the director directly owned 32,071 shares in the company, valued at approximately $672,849.58. This trade represents a 17.43% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher O. Blunt bought 10,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of $20.99 per share, for a total transaction of $209,900.00. Following the completion of the transaction, the chief executive officer owned 1,107,128 shares in the company, valued at approximately $23,238,616.72. The trade was a 0.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.10% of the company’s stock.

About F&G Annuities & Life

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.