Denali Advisors LLC Purchases 18,500 Shares of F&G Annuities & Life, Inc. $FG

Denali Advisors LLC increased its stake in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,661 shares of the company’s stock after purchasing an additional 18,500 shares during the quarter. F&G Annuities & Life comprises about 0.8% of Denali Advisors LLC’s portfolio, making the stock its 27th biggest position. Denali Advisors LLC owned 0.18% of F&G Annuities & Life worth $7,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Elevated Capital Advisors LLC bought a new stake in shares of F&G Annuities & Life during the fourth quarter valued at approximately $27,000. GAMMA Investing LLC grew its stake in shares of F&G Annuities & Life by 432.6% during the fourth quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after purchasing an additional 757 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of F&G Annuities & Life by 83.8% during the third quarter. EverSource Wealth Advisors LLC now owns 1,211 shares of the company’s stock valued at $38,000 after purchasing an additional 552 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of F&G Annuities & Life during the fourth quarter valued at approximately $39,000. Finally, Godsey & Gibb Inc. grew its stake in shares of F&G Annuities & Life by 84.6% during the fourth quarter. Godsey & Gibb Inc. now owns 1,606 shares of the company’s stock valued at $50,000 after purchasing an additional 736 shares during the last quarter. 95.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on FG. Wall Street Zen raised shares of F&G Annuities & Life from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Barclays decreased their price target on shares of F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Raymond James Financial began coverage on shares of F&G Annuities & Life in a research note on Wednesday. They set a “market perform” rating on the stock. Zacks Research cut shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $30.00.

F&G Annuities & Life Trading Up 4.4%

Shares of NYSE:FG opened at $28.28 on Friday. F&G Annuities & Life, Inc. has a 12 month low of $20.57 and a 12 month high of $36.70. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.45. The company’s fifty day simple moving average is $25.01 and its 200 day simple moving average is $28.33. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of 7.42 and a beta of 1.28.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.08). The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $1.46 billion. F&G Annuities & Life had a net margin of 8.89% and a return on equity of 10.70%. As a group, research analysts forecast that F&G Annuities & Life, Inc. will post 3.8 EPS for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid 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 3.5%. F&G Annuities & Life’s payout ratio is currently 26.25%.

F&G Annuities & Life announced that its Board of Directors has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

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

F&G Annuities & Life 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.