HighTower Advisors LLC Buys Shares of 28,280 F&G Annuities & Life, Inc. $FG

HighTower Advisors LLC bought a new stake 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 SEC. The firm bought 28,280 shares of the company’s stock, valued at approximately $872,000.

A number of other institutional investors also recently modified their holdings of the stock. Stephens Inc. AR acquired a new stake in shares of F&G Annuities & Life during the 4th quarter valued at $352,000. AustralianSuper Pty Ltd acquired a new stake in shares of F&G Annuities & Life during the 4th quarter valued at $978,000. Allworth Financial LP boosted its stake in shares of F&G Annuities & Life by 276.0% during the 4th quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock valued at $36,000 after buying an additional 861 shares during the period. Schwartz Investment Counsel Inc. boosted its stake in shares of F&G Annuities & Life by 38.3% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 133,284 shares of the company’s stock valued at $4,112,000 after buying an additional 36,900 shares during the period. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of F&G Annuities & Life during the 4th quarter valued at $125,000. Institutional investors and hedge funds own 95.86% of the company’s stock.

Insider Activity

In related news, CEO Christopher O. Blunt acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were bought at an average price of $20.99 per share, for a total transaction of $209,900.00. Following the acquisition, the chief executive officer owned 1,107,128 shares in the company, valued at $23,238,616.72. This trade represents a 0.91% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Celina J. Wang Doka acquired 4,760 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were bought at an average price of $20.98 per share, for a total transaction of $99,864.80. Following the acquisition, the director owned 32,071 shares in the company, valued at approximately $672,849.58. This trade represents a 17.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.10% of the company’s stock.

F&G Annuities & Life Stock Performance

Shares of FG opened at $27.77 on Friday. The company has a market capitalization of $3.68 billion, a PE ratio of 7.29 and a beta of 1.22. F&G Annuities & Life, Inc. has a one year low of $20.57 and a one year high of $36.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.29 and a quick ratio of 0.29. The company’s fifty day moving average price is $27.04 and its 200 day moving average price is $27.95.

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

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

F&G Annuities & Life Announces Dividend

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

Wall Street Analyst Weigh In

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

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.