Thompson Siegel & Walmsley LLC Buys Shares of 49,126 F&G Annuities & Life, Inc. $FG

Key Points

• Thompson Siegel & Walmsley opened a new position in F&G Annuities & Life, buying 49,126 shares valued at about $1.52 million.
• F&G reported Q1 earnings of $0.82 per share, which missed analyst expectations, though revenue came in at $2.25 billion, well above estimates.
• The company announced a quarterly dividend of $0.25 per share and has authorized a $100 million share buyback, equal to about 3.1% of outstanding stock.

Thompson Siegel & Walmsley LLC bought a new stake in F&G Annuities & Life, Inc. (NYSE:FG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 49,126 shares of the company's stock, valued at approximately $1,516,000.

A number of other institutional investors also recently made changes to their positions in FG. Cubist Systematic Strategies LLC acquired a new position in shares of F&G Annuities & Life in the 1st quarter valued at approximately $89,000. AQR Capital Management LLC acquired a new position in shares of F&G Annuities & Life in the 1st quarter valued at approximately $521,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of F&G Annuities & Life by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,035 shares of the company's stock valued at $398,000 after purchasing an additional 452 shares in the last quarter. Millennium Management LLC raised its position in shares of F&G Annuities & Life by 330.8% in the 1st quarter. Millennium Management LLC now owns 217,306 shares of the company's stock valued at $7,834,000 after purchasing an additional 166,863 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of F&G Annuities & Life in the 1st quarter valued at approximately $276,000. 95.86% of the stock is owned by institutional investors and hedge funds.

F&G Annuities & Life Price Performance

Shares of FG opened at $27.53 on Wednesday. The company has a market cap of $3.65 billion, a P/E ratio of 7.23 and a beta of 1.22. The stock has a fifty day moving average price of $26.80 and a 200 day moving average price of $28.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.29 and a quick ratio of 0.29. F&G Annuities & Life, Inc. has a 12 month low of $20.57 and a 12 month high of $36.70.

F&G Annuities & Life (NYSE:FG - Get Free Report) last issued 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 company had revenue of $2.25 billion for 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%. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, June 16th. F&G Annuities & Life's dividend payout ratio is presently 26.25%.

F&G Annuities & Life announced that its Board of Directors has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen lowered F&G Annuities & Life from a "buy" rating to a "hold" rating in a research report on Sunday, May 10th. Zacks Research raised F&G Annuities & Life to a "hold" rating in a research report on Thursday, May 7th. Raymond James Financial assumed coverage on F&G Annuities & Life in a research report on Wednesday, May 6th. They issued a "market perform" rating on the stock. Barclays cut their target price on F&G Annuities & Life from $31.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of F&G Annuities & Life in a report on Friday, March 27th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.00.

Insiders Place Their Bets

In related news, CEO Christopher O. Blunt acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $20.99 per share, for a total transaction of $209,900.00. Following the purchase, the chief executive officer directly owned 1,107,128 shares in the company, valued at $23,238,616.72. This represents a 0.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Celina J. Wang Doka purchased 4,760 shares of F&G Annuities & Life stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $20.98 per share, with a total value of $99,864.80. Following the transaction, the director directly owned 32,071 shares in the company, valued at $672,849.58. This trade represents a 17.43% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.10% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding FG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for F&G Annuities & Life, Inc. (NYSE:FG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.