SEB Asset Management AB Acquires New Holdings in F&G Annuities & Life, Inc. $FG

Key Points

• SEB Asset Management AB opened a new position in F&G Annuities & Life, buying 229,461 shares valued at about $5.81 million in the first quarter.
• Institutional ownership remains very high, with hedge funds and other investors holding 95.86% of the company’s stock, and several firms recently increased their stakes.
• F&G Annuities & Life reported mixed quarterly results, missing EPS and revenue estimates, while analysts currently maintain an overall Hold outlook with an average price target of $30.

SEB Asset Management AB bought a new stake in shares of F&G Annuities & Life, Inc. (NYSE:FG - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 229,461 shares of the company's stock, valued at approximately $5,810,000. SEB Asset Management AB owned 0.17% of F&G Annuities & Life as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Crescent Grove Advisors LLC raised its holdings in shares of F&G Annuities & Life by 1.5% during the first quarter. Crescent Grove Advisors LLC now owns 65,221 shares of the company's stock valued at $1,651,000 after buying an additional 941 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in F&G Annuities & Life by 57,959.4% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 18,579 shares of the company's stock worth $470,000 after buying an additional 18,547 shares in the last quarter. Fifth Third Bancorp increased its position in F&G Annuities & Life by 6,833.3% in the 1st quarter. Fifth Third Bancorp now owns 23,088 shares of the company's stock valued at $585,000 after acquiring an additional 22,755 shares during the period. Stephens Inc. AR increased its position in F&G Annuities & Life by 2,230.2% in the 1st quarter. Stephens Inc. AR now owns 266,175 shares of the company's stock valued at $6,740,000 after acquiring an additional 254,752 shares during the period. Finally, SG Americas Securities LLC raised its stake in F&G Annuities & Life by 6.3% during the 1st quarter. SG Americas Securities LLC now owns 35,587 shares of the company's stock valued at $901,000 after acquiring an additional 2,108 shares in the last quarter. Institutional investors and hedge funds own 95.86% of the company's stock.

F&G Annuities & Life Stock Performance

Shares of NYSE FG opened at $29.84 on Thursday. The stock has a fifty day moving average price of $28.25 and a two-hundred day moving average price of $27.04. 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 firm has a market cap of $3.95 billion, a P/E ratio of 7.83 and a beta of 1.23. F&G Annuities & Life, Inc. has a 1 year low of $20.57 and a 1 year high of $36.70.

F&G Annuities & Life (NYSE:FG - Get Free Report) 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). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.46 billion. F&G Annuities & Life had a return on equity of 10.73% and a net margin of 8.89%. Research analysts forecast that F&G Annuities & Life, Inc. will post 3.66 EPS for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.25 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $1.00 annualized dividend and a yield of 3.4%. F&G Annuities & Life's payout ratio is 26.25%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FG shares. Raymond James Financial initiated coverage on F&G Annuities & Life in a research report on Wednesday, May 6th. They set a "market perform" rating for the company. Weiss Ratings restated a "hold (c)" rating on shares of F&G Annuities & Life in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of F&G Annuities & Life from a "buy" rating to a "hold" rating in a report on Sunday, July 5th. 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. Finally, Zacks Research raised shares of F&G Annuities & Life to a "hold" rating in a research note on Thursday, May 7th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average 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.

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