Wedge Capital Management L L P NC Invests $1.43 Million in F&G Annuities & Life, Inc. $FG

Wedge Capital Management L L P NC purchased a new stake in shares of F&G Annuities & Life, Inc. (NYSE:FG) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 45,864 shares of the company’s stock, valued at approximately $1,434,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its position in F&G Annuities & Life by 189.7% during the third quarter. Voya Investment Management LLC now owns 18,762 shares of the company’s stock valued at $587,000 after acquiring an additional 12,285 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of F&G Annuities & Life during the 2nd quarter worth $485,000. Tidal Investments LLC acquired a new position in shares of F&G Annuities & Life during the 2nd quarter worth $455,000. Brevan Howard Capital Management LP bought a new position in shares of F&G Annuities & Life during the 2nd quarter valued at $360,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of F&G Annuities & Life by 7.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 66,211 shares of the company’s stock valued at $2,117,000 after purchasing an additional 4,469 shares during the last quarter. Institutional investors and hedge funds own 95.86% of the company’s stock.

F&G Annuities & Life Price Performance

Shares of F&G Annuities & Life stock opened at $31.23 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market cap of $4.20 billion, a PE ratio of 9.16 and a beta of 1.45. The firm has a fifty day moving average price of $31.47 and a two-hundred day moving average price of $32.16. F&G Annuities & Life, Inc. has a fifty-two week low of $28.70 and a fifty-two week high of $47.76.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings results on Tuesday, October 3rd. The company reported $1.45 earnings per share (EPS) for the quarter. The firm had revenue of $496.00 million for the quarter. F&G Annuities & Life had a return on equity of 11.41% and a net margin of 8.40%. Analysts expect that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. This is an increase from F&G Annuities & Life’s previous quarterly dividend of $0.22. F&G Annuities & Life’s dividend payout ratio is currently 29.33%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Zacks Research raised shares of F&G Annuities & Life from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Barclays reduced their price target on F&G Annuities & Life from $40.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Piper Sandler set a $33.00 price objective on F&G Annuities & Life in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Monday. Finally, Wall Street Zen upgraded F&G Annuities & Life from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Insider Activity

In related news, CEO Christopher O. Blunt bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $29.88 per share, for a total transaction of $149,400.00. Following the transaction, the chief executive officer directly owned 1,146,419 shares of the company’s stock, valued at $34,254,999.72. This represents a 0.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

F&G Annuities & Life 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.