First Eagle Investment Management LLC Acquires New Stake in F&G Annuities & Life, Inc. $FG

First Eagle Investment Management LLC acquired a new stake in F&G Annuities & Life, Inc. (NYSE:FG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 366,671 shares of the company’s stock, valued at approximately $11,312,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FG. Elevated Capital Advisors LLC acquired a new stake in F&G Annuities & Life in the fourth quarter valued at $27,000. GAMMA Investing LLC increased its holdings in 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 purchasing an additional 757 shares during the period. EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 552 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in F&G Annuities & Life in the fourth quarter valued at $39,000. Finally, Godsey & Gibb Inc. increased its holdings in F&G Annuities & Life by 84.6% in the fourth quarter. Godsey & Gibb Inc. now owns 1,606 shares of the company’s stock valued at $50,000 after purchasing an additional 736 shares during the period. 95.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

F&G Annuities & Life Stock Performance

Shares of F&G Annuities & Life stock opened at $28.05 on Wednesday. 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 business has a 50-day moving average price of $25.30 and a two-hundred day moving average price of $28.29. 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 market cap of $3.72 billion, a P/E ratio of 7.36 and a beta of 1.28.

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 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 for the quarter, compared to analyst estimates of $1.46 billion. As a group, analysts anticipate that F&G Annuities & Life, Inc. will post 3.8 EPS for the current year.

F&G Annuities & Life Announces Dividend

The company 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 $0.25 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. F&G Annuities & Life’s dividend payout ratio (DPR) is currently 26.25%.

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

Insider Activity

In other news, Director Celina J. Wang Doka bought 4,760 shares of F&G Annuities & Life stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $20.98 per share, for a total transaction of $99,864.80. Following the purchase, the director directly owned 32,071 shares in the company, valued at approximately $672,849.58. This represents a 17.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher O. Blunt bought 10,000 shares of F&G Annuities & Life stock in a transaction dated 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 completion of the purchase, the chief executive officer owned 1,107,128 shares in the company, valued at $23,238,616.72. This trade represents a 0.91% increase in their ownership of the stock. 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 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.