HighTower Advisors LLC Takes $872,000 Position in F&G Annuities & Life, Inc. $FG

HighTower Advisors LLC acquired a new stake in F&G Annuities & Life, Inc. (NYSE:FG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,280 shares of the company’s stock, valued at approximately $872,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elevated Capital Advisors LLC bought a new position in shares of F&G Annuities & Life in the fourth quarter valued at approximately $27,000. GAMMA Investing LLC boosted its holdings in shares of F&G Annuities & Life by 432.6% in the fourth quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after acquiring an additional 757 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of F&G Annuities & Life by 276.0% in the fourth quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock valued at $36,000 after acquiring an additional 861 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of F&G Annuities & Life by 83.8% in the third quarter. EverSource Wealth Advisors LLC now owns 1,211 shares of the company’s stock valued at $38,000 after acquiring an additional 552 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of F&G Annuities & Life in the fourth quarter valued at approximately $39,000. 95.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Christopher O. Blunt acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $20.99 per share, with a total value of $209,900.00. Following the purchase, the chief executive officer 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Celina J. Wang Doka acquired 4,760 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $20.98 per share, with a total value of $99,864.80. Following the purchase, the director directly owned 32,071 shares in the company, valued at approximately $672,849.58. This trade represents a 17.43% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.10% of the company’s stock.

F&G Annuities & Life Trading Up 2.2%

Shares of NYSE:FG opened at $27.77 on Friday. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 7.29 and a beta of 1.22. F&G Annuities & Life, Inc. has a 1-year low of $20.57 and a 1-year 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 50 day moving average price of $27.04 and a 200 day moving average price of $27.95.

F&G Annuities & Life (NYSE:FG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 EPS 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 firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $1.46 billion. On average, research analysts anticipate that F&G Annuities & Life, Inc. will post 3.78 EPS for the current fiscal year.

F&G Annuities & Life declared that its board has approved a share repurchase program on Monday, March 16th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is 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 of this dividend is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. F&G Annuities & Life’s dividend payout ratio (DPR) is currently 26.25%.

Wall Street Analyst Weigh In

FG has been the subject of several recent analyst reports. Zacks Research upgraded shares of F&G Annuities & Life to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a report on Friday, March 27th. Raymond James Financial initiated coverage on shares of F&G Annuities & Life in a report on Wednesday, May 6th. They set a “market perform” rating for the company. Barclays reduced 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 report on Wednesday, April 8th. Finally, 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. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.00.

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.