Crescent Grove Advisors LLC Buys 29,941 Shares of F&G Annuities & Life, Inc. $FG

Crescent Grove Advisors LLC grew its stake in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 87.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 64,280 shares of the company’s stock after purchasing an additional 29,941 shares during the period. Crescent Grove Advisors LLC’s holdings in F&G Annuities & Life were worth $1,983,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC bought a new stake in F&G Annuities & Life during the 4th quarter worth approximately $27,000. Hantz Financial Services Inc. increased its holdings in F&G Annuities & Life by 29,066.7% during the 4th quarter. Hantz Financial Services Inc. now owns 875 shares of the company’s stock worth $27,000 after purchasing an additional 872 shares in the last quarter. GAMMA Investing LLC increased its holdings in F&G Annuities & Life by 432.6% during the 4th quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock worth $29,000 after purchasing an additional 757 shares in the last quarter. Allworth Financial LP increased its holdings in F&G Annuities & Life by 276.0% during the 4th quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock worth $36,000 after purchasing an additional 861 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in 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 worth $38,000 after purchasing an additional 552 shares in the last quarter. 95.86% of the stock is owned by institutional investors.

Insider Activity at F&G Annuities & Life

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

F&G Annuities & Life Price Performance

Shares of NYSE FG opened at $25.88 on Thursday. F&G Annuities & Life, Inc. has a twelve month low of $20.57 and a twelve month high of $36.70. The stock’s 50 day moving average price is $26.92 and its 200-day moving average price is $27.98. The company has a market capitalization of $3.43 billion, a PE ratio of 6.79 and a beta of 1.22. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.47.

F&G Annuities & Life (NYSE:FG) last announced its 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 analysts’ expectations of $1.46 billion. On average, equities analysts anticipate that F&G Annuities & Life, Inc. will post 3.78 EPS for the current year.

F&G Annuities & Life declared that its board has approved a stock repurchase plan on Monday, March 16th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

F&G Annuities & Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 annualized dividend and a yield of 3.9%. F&G Annuities & Life’s dividend payout ratio is presently 26.25%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FG. Wall Street Zen lowered F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Zacks Research upgraded F&G Annuities & Life to a “hold” rating in a research note on Thursday, May 7th. Weiss Ratings restated 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 F&G Annuities & Life in a research note on Wednesday, May 6th. They issued a “market perform” rating on the stock. Finally, Barclays cut their target price on 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. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.00.

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.