Insider Trading Report: F&G Annuities & Life Insurance (FG)

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Christopher Blunt, President and CEO at
F&G Annuities & Life Insurance (FG), recently added 10,000 shares. The buy increased his holdings by 2.6 percent, and came to a total cost just over $195,000.

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    • This is the 7th buy from Blunt so far this month. These trades constitute the only insider activity at the company. F&G was recently made public via a spinoff from parent company
    Fidelity National Financial (FNF). Consequently, initial insider data is not yet finalized.

    Overall, early data indicates insiders own about 0.1 percent of the company.

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    Shares are essentially flat since their spinoff. As a spinoff, there’s some operational history, showing that revenues for the finance company are flat over the past year, but the company sports a solid 20 percent profit margin.
    Action to take: Shares may see a long-term move higher from here. Rising interest rates are weighing on financial stocks of all stripes, but annuities and life insurance tend to be fairly steady, long-term growers.

    Shares currently yield about 4 percent at current prices, and the stock has a spinoff valuation of about 5 times earnings.

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    • For traders, the small size of the company has prevented options trades at the moment. However, traders could play FNF options as a way to bet on a move higher in the financial sector in the past year.

    The June 2023 $40 calls, last going for about $0.20, offer high double-digit returns or better in the first half of next year.

     
    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.