UBS Group AG Buys 198,993 Shares of F&G Annuities & Life, Inc. $FG

Key Points

• UBS Group AG sharply increased its stake in F&G Annuities & Life by 485.3% in the fourth quarter, buying 198,993 additional shares and lifting its holdings to about 240,000 shares worth roughly $7.4 million.
• Analyst sentiment remains cautious, with the stock carrying a consensus rating of “Hold” and an average price target of $30.00 after several firms either downgraded or reiterated neutral views.
• The company continues shareholder returns through a quarterly $0.25 dividend and a $100 million share repurchase program, even as its latest earnings missed EPS estimates despite beating revenue expectations.

UBS Group AG boosted its stake in F&G Annuities & Life, Inc. (NYSE:FG - Free Report) by 485.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,997 shares of the company's stock after purchasing an additional 198,993 shares during the quarter. UBS Group AG owned about 0.18% of F&G Annuities & Life worth $7,404,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Elevated Capital Advisors LLC purchased a new position in shares of F&G Annuities & Life in the 4th quarter worth approximately $27,000. GAMMA Investing LLC lifted its holdings in shares of F&G Annuities & Life by 432.6% in the 4th quarter. GAMMA Investing LLC now owns 932 shares of the company's stock worth $29,000 after acquiring an additional 757 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake 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 worth $38,000 after purchasing an additional 552 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of F&G Annuities & Life during the fourth quarter valued at approximately $39,000. Finally, Godsey & Gibb Inc. increased its stake 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 worth $50,000 after purchasing an additional 736 shares during the period. 95.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of F&G Annuities & Life to a "hold" rating in a report on Thursday, May 7th. 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. Barclays cut their price objective on shares of F&G Annuities & Life from $31.00 to $27.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. Raymond James Financial initiated coverage on F&G Annuities & Life in a report on Wednesday, May 6th. They issued a "market perform" rating on the stock. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of F&G Annuities & Life in a research report on Friday, March 27th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, F&G Annuities & Life currently has a consensus rating of "Hold" and a consensus target price of $30.00.

Insider Transactions at F&G Annuities & Life

In other F&G Annuities & Life news, CEO Christopher O. Blunt purchased 10,000 shares of the business's stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price 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 approximately $23,238,616.72. This trade represents a 0.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Celina J. Wang Doka bought 4,760 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $20.98 per share, for a total transaction of $99,864.80. Following the transaction, the director directly owned 32,071 shares in the company, valued at approximately $672,849.58. This represents a 17.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.10% of the company's stock.

F&G Annuities & Life Price Performance

Shares of NYSE:FG opened at $27.99 on Tuesday. F&G Annuities & Life, Inc. has a twelve month low of $20.57 and a twelve month high of $36.70. 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 company has a market cap of $3.71 billion, a PE ratio of 7.35 and a beta of 1.28. The company's 50 day moving average is $25.72 and its 200 day moving average is $28.26.

F&G Annuities & Life (NYSE:FG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.08). The business had revenue of $2.25 billion during the quarter, compared to analysts' expectations of $1.46 billion. F&G Annuities & Life had a net margin of 8.89% and a return on equity of 10.73%. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.25 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. F&G Annuities & Life's dividend payout ratio is 26.25%.

F&G Annuities & Life declared that its board has authorized a share repurchase program on Monday, March 16th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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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