F&G Annuities & Life, Inc. $FG Shares Bought by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp boosted its holdings in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 88.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,384 shares of the company’s stock after purchasing an additional 70,026 shares during the period. Peapack Gladstone Financial Corp’s holdings in F&G Annuities & Life were worth $4,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC acquired a new position in F&G Annuities & Life during the fourth quarter valued at $27,000. Hantz Financial Services Inc. lifted its position in F&G Annuities & Life by 29,066.7% during the fourth quarter. Hantz Financial Services Inc. now owns 875 shares of the company’s stock valued at $27,000 after purchasing an additional 872 shares during the period. GAMMA Investing LLC lifted its position in 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 period. Allworth Financial LP lifted its position in F&G Annuities & Life by 276.0% during the fourth quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock valued at $36,000 after purchasing an additional 861 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in 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 period. 95.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FG shares. 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 report on Wednesday, April 8th. Wall Street Zen cut shares of F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Zacks Research raised shares of F&G Annuities & Life to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a report on Friday, March 27th. Finally, Raymond James Financial initiated coverage on shares of F&G Annuities & Life in a report on Wednesday, May 6th. They issued a “market perform” rating for the company. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.00.

F&G Annuities & Life Stock Up 1.1%

FG opened at $27.53 on Wednesday. F&G Annuities & Life, Inc. has a fifty-two week low of $20.57 and a fifty-two week high of $36.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.29 and a current ratio of 0.29. The company has a fifty day moving average of $26.80 and a two-hundred day moving average of $28.07. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 7.23 and a beta of 1.22.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings data 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 net margin of 8.89% and a return on equity of 10.73%. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $1.46 billion. On average, research analysts expect that F&G Annuities & Life, Inc. will post 3.78 earnings per share for the current year.

F&G Annuities & Life Announces Dividend

The business also recently announced 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 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 payout ratio is currently 26.25%.

F&G Annuities & Life announced that its board has approved a share 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 usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at F&G Annuities & Life

In related news, Director Celina J. Wang Doka bought 4,760 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $20.98 per share, with a total value of $99,864.80. Following the completion of the purchase, the director directly owned 32,071 shares of the company’s stock, valued at approximately $672,849.58. This trade represents a 17.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher O. Blunt bought 10,000 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $20.99 per share, with a total value 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 represents a 0.91% 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 insiders.

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.