Confluence Investment Management LLC Takes $3.74 Million Position in F&G Annuities & Life, Inc. $FG

Confluence Investment Management LLC acquired a new position in shares of F&G Annuities & Life, Inc. (NYSE:FG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 121,300 shares of the company’s stock, valued at approximately $3,742,000. Confluence Investment Management LLC owned approximately 0.09% of F&G Annuities & Life at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of FG. Ameriprise Financial Inc. grew its holdings in F&G Annuities & Life by 870.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock valued at $20,085,000 after buying an additional 576,102 shares during the last quarter. Norges Bank acquired a new position in shares of F&G Annuities & Life in the second quarter worth $8,503,000. Millennium Management LLC raised its holdings in shares of F&G Annuities & Life by 330.8% in the first quarter. Millennium Management LLC now owns 217,306 shares of the company’s stock worth $7,834,000 after acquiring an additional 166,863 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of F&G Annuities & Life by 12.6% in the third quarter. Dimensional Fund Advisors LP now owns 840,969 shares of the company’s stock valued at $26,299,000 after acquiring an additional 94,394 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of F&G Annuities & Life by 23.4% during the second quarter. American Century Companies Inc. now owns 365,343 shares of the company’s stock valued at $11,684,000 after acquiring an additional 69,242 shares during the last quarter. 95.86% of the stock is currently owned by institutional investors and hedge funds.

F&G Annuities & Life Stock Performance

F&G Annuities & Life stock opened at $23.54 on Friday. The stock has a fifty day moving average price of $25.96 and a 200 day moving average price of $29.68. F&G Annuities & Life, Inc. has a 52 week low of $20.57 and a 52 week high of $37.19. The firm has a market capitalization of $3.19 billion, a P/E ratio of 12.86 and a beta of 1.59. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.45.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.43). F&G Annuities & Life had a return on equity of 10.48% and a net margin of 4.62%.The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $1.55 billion. Equities research analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current year.

F&G Annuities & Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.00 annualized dividend and a dividend yield of 4.2%. F&G Annuities & Life’s dividend payout ratio (DPR) is currently 54.64%.

F&G Annuities & Life announced that its board has approved a share repurchase program on Monday, March 16th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

FG has been the subject of a number of recent research reports. Zacks Research cut F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Wall Street Zen raised shares of F&G Annuities & Life from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays set a $31.00 price target on shares of F&G Annuities & Life in a report on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, F&G Annuities & Life currently has a consensus rating of “Reduce” and an average price target of $32.00.

Insider Buying and Selling

In related news, Director Celina J. Wang Doka bought 4,760 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $20.98 per share, for a total transaction of $99,864.80. Following the completion of the acquisition, the director owned 32,071 shares in the company, valued at $672,849.58. This trade represents a 17.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher O. Blunt purchased 10,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 1,107,128 shares of the company’s stock, valued at $23,238,616.72. The trade was a 0.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 19,760 shares of company stock valued at $457,565. 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.