Stephens Inc. AR Boosts Stake in F&G Annuities & Life, Inc. $FG

Stephens Inc. AR raised its stake in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 2,230.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 266,175 shares of the company’s stock after acquiring an additional 254,752 shares during the quarter. Stephens Inc. AR owned approximately 0.20% of F&G Annuities & Life worth $6,740,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Confluence Investment Management LLC purchased a new position in shares of F&G Annuities & Life in the 4th quarter worth approximately $3,742,000. UBS Group AG boosted its stake in F&G Annuities & Life by 485.3% in the fourth quarter. UBS Group AG now owns 239,997 shares of the company’s stock valued at $7,404,000 after acquiring an additional 198,993 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in F&G Annuities & Life in the fourth quarter worth $1,211,000. Pictet Asset Management Holding SA purchased a new position in F&G Annuities & Life in the fourth quarter worth $1,533,000. Finally, Vanguard Group Inc. increased its position in shares of F&G Annuities & Life by 85.4% during the fourth quarter. Vanguard Group Inc. now owns 3,807,765 shares of the company’s stock worth $117,470,000 after purchasing an additional 1,753,709 shares in the last quarter. Institutional investors own 95.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen downgraded F&G Annuities & Life from a “buy” rating to a “hold” rating in a research note on Sunday. Zacks Research upgraded F&G Annuities & Life to a “hold” rating in a research note on Thursday, May 7th. Raymond James Financial began coverage on F&G Annuities & Life in a research note on Wednesday, May 6th. They set a “market perform” rating on the stock. Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a report on Wednesday, June 24th. Finally, Barclays decreased their price objective 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 report on Wednesday, April 8th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.00.

F&G Annuities & Life Trading Up 1.3%

Shares of NYSE:FG opened at $28.74 on Wednesday. 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, Inc. has a 52-week low of $20.57 and a 52-week high of $36.70. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 7.54 and a beta of 1.23. The business has a 50-day moving average price of $27.80 and a 200-day moving average price of $27.13.

F&G Annuities & Life (NYSE:FG) last issued its quarterly 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.46 billion. Equities analysts predict that F&G Annuities & Life, Inc. will post 3.66 EPS for the current year.

F&G Annuities & Life Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, June 16th. F&G Annuities & Life’s dividend payout ratio (DPR) is 26.25%.

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

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.