LSV Asset Management Takes Position in F&G Annuities & Life, Inc. $FG

LSV Asset Management acquired a new stake in F&G Annuities & Life, Inc. (NYSE:FG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 26,000 shares of the company’s stock, valued at approximately $802,000.

Several other institutional investors and hedge funds have also modified their holdings of FG. Cubist Systematic Strategies LLC acquired a new position in shares of F&G Annuities & Life in the 1st quarter valued at about $89,000. AQR Capital Management LLC acquired a new position in shares of F&G Annuities & Life in the 1st quarter valued at about $521,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 buying an additional 452 shares during the period. Millennium Management LLC lifted its holdings in shares of F&G Annuities & Life by 330.8% in the 1st quarter. Millennium Management LLC now owns 217,306 shares of the company’s stock valued at $7,834,000 after buying an additional 166,863 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of F&G Annuities & Life in the 1st quarter valued at about $276,000. Institutional investors and hedge funds own 95.86% of the company’s stock.

F&G Annuities & Life Stock Performance

NYSE FG opened at $27.93 on Thursday. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 7.33 and a beta of 1.28. F&G Annuities & Life, Inc. has a twelve month low of $20.57 and a twelve month high of $36.70. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average of $26.56 and a 200 day moving average of $28.17.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $1.46 billion. Sell-side analysts anticipate that F&G Annuities & Life, Inc. will post 3.78 EPS for the current fiscal year.

F&G Annuities & Life Dividend Announcement

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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. F&G Annuities & Life’s dividend payout ratio is presently 26.25%.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of F&G Annuities & Life in a report on Friday, March 27th. Zacks Research raised F&G Annuities & Life to a “hold” rating in a report on Thursday, May 7th. Barclays reduced their price target 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. Wall Street Zen cut F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Raymond James Financial initiated coverage on F&G Annuities & Life in a report on Wednesday, May 6th. They issued a “market perform” rating for the company. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.00.

Insider Buying and Selling

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

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.