On August 25, 2023, it was reported that Federated Hermes Inc. has acquired a new stake in F&G Annuities & Life, Inc. This transaction took place in the first quarter and was disclosed through a 13F filing with the Securities and Exchange Commission (SEC). In this filing, Federated Hermes Inc. revealed that it had acquired 10,614 shares of F&G Annuities & Life’s stock, valued at approximately $192,000.
F&G Annuities & Life, Inc. is a company that specializes in providing fixed annuities and life insurance products within the United States. Its customer base encompasses both retail annuity and life customers, as well as institutional clients. The company offers an array of products including fixed indexed annuities, multi-year guarantee annuities, pension risk transfer solutions, indexed universal life insurance, and institutional funding agreements.
By acquiring a stake in F&G Annuities & Life, Federated Hermes Inc. has expressed confidence in the company’s potential for growth and profitability. This strategic move aligns with Federated Hermes’ mission to identify investment opportunities that offer long-term value to its clients.
Fixed annuities and life insurance products play an essential role in retirement planning and wealth preservation strategies for individuals and institutions alike. With its diverse range of offerings, F&G Annuities & Life is well-positioned to cater to the evolving needs of its customers.
The acquisition of shares by Federated Hermes Inc. underscores their belief in the value proposition offered by F&G Annuities & Life. This development highlights the market forces driving investment decisions within the financial sector.
It is important to note that this information comes from a recent 13F filing made by Federated Hermes Inc. to the SEC; thus displaying transparency and compliance with regulatory requirements.
In conclusion, Federated Hermes Inc.’s acquisition of a new stake in F&G Annuities & Life, Inc. underlines their confidence in the company’s potential. F&G Annuities & Life’s wide range of fixed annuities and life insurance products positions them as a key player within the industry. The financial marketplace will continue to observe how this strategic investment enhances both companies’ prospects moving forward.
F&G Annuities & Life, Inc.
FG
Buy
Updated on: 25/08/2023
F&G Annuities & Life Attracts Attention from Hedge Funds and Institutional Investors, Showing Promising Growth Potential
F&G Annuities & Life, Inc. has been attracting attention from various hedge funds and institutional investors. Madison Avenue Partners LP, Ancora Advisors LLC, Geode Capital Management LLC, Dimensional Fund Advisors LP, and Millennium Management LLC have all acquired new positions or increased their stakes in the company during the fourth quarter of the previous year. These investments are valued at millions of dollars, indicating a high degree of confidence in F&G Annuities & Life.
Institutional investors and hedge funds currently own 95.12% of the company’s stock, highlighting their significant influence on its performance. This level of ownership suggests that these professional investors see potential in F&G Annuities & Life and view it as a promising investment opportunity.
Several brokerages have also weighed in on FG and have issued reports concerning its outlook. Stephens reaffirmed an “equal weight” rating on the company’s shares and set a price target of $19.00. Similarly, Barclays reduced their price target from $22.00 to $20.00 in an earlier report.
F&G Annuities & Life is primarily focused on providing fixed annuities and life insurance products within the United States market. Serving both retail customers and institutional clients, the company offers a diverse portfolio that includes fixed indexed annuities, multi-year guarantee annuities, pension risk transfer solutions, indexed universal life insurance policies, and institutional funding agreements.
As of August 25th, F&G Annuities & Life’s stock opened at $28.98 per share. The 50-day moving average stands at $25.50 while the 200-day moving average is recorded at $21.46 per share. These values give potential investors insights into recent stock performance trends.
It is worth noting that F&G Annuities & Life has witnessed substantial fluctuations over a one-year period with a low point of $9.03 and a high point of $35.00 per share. This level of volatility indicates a rather dynamic market for the company’s stock.
Furthermore, the company recently announced its quarterly dividend, which is set to be paid on Friday, September 29th. Shareholders of record as of Friday, September 15th will receive a dividend of $0.20 per share. When annualized, this translates to a dividend yield of 2.76%. The ex-dividend date has been scheduled for Thursday, September 14th.
Overall, F&G Annuities & Life appears to be attracting attention from both investors and brokerage firms due to its diverse product portfolio and potential growth prospects. With various hedge funds and institutional investors backing the company and issuing positive reports on its performance, F&G Annuities & Life remains an intriguing investment option within the fixed annuities and life insurance sector.
