Fundamental Global Inc. Stock Price, News & Analysis

FG Financial Group, Inc. (Nasdaq: FGF) announced the formation of a reinsurance sidecar, FG Re Investors I LLC, via its subsidiary FG Reinsurance Ltd, aiming to enhance its reinsurance portfolio. This initiative will attract third-party investor capital and is supported by Castle Placement, LLC as the exclusive placement agent. CEO Larry Swets highlighted the strong reinsurance market, while Chairman Kyle Cerminara noted the potential for new revenue streams via fee income from the existing platform.

FG Financial Group (Nasdaq: FGF) has launched FG Communities, a new venture aimed at improving affordable housing. This initiative is a result of a partnership with Fundamental Global, marking the first project under FG Financial's new Merchant Banking division. FG Communities currently owns four manufactured housing communities and is actively seeking additional properties. CEO Michael Anise emphasizes the strong demand for affordable housing, while Kyle Cerminara from Fundamental Global expresses optimism about future growth.

FG Financial Group (Nasdaq: FGF) reported substantial growth in its reinsurance segment for Q3 2022, with net premiums earned rising to $4.4 million from $1.1 million year-over-year. Additionally, net investment income improved to $11.2 million, up from a loss of $1.3 million in the same period last year. The company also launched a merchant banking platform, expanding its strategic focus. Despite a net loss of $0.4 million for the nine-month period, shares delivered a profit of $1.05 per diluted share for Q3.

FG Financial Group, Inc. (Nasdaq: FGF) has announced a quarterly cash dividend of $0.50 per share on its 8.00% Cumulative Preferred Stock, Series A. The dividend pertains to the period from September 15, 2022 to December 14, 2022, and is payable on December 15, 2022, to shareholders of record as of December 1, 2022. The company focuses on reinsurance and asset management, partnering with Fundamental Global and strategic investors to allocate capital effectively.

FG Financial Group, Inc. (Nasdaq: FGF) is expanding its growth strategy by launching a merchant banking division. This new division aims to capitalize on a broader market and leverage management's experience in structuring innovative businesses. The company focuses on reinsurance and asset management, partnering with Fundamental Global. Management emphasizes their proven track record with SPACs, reverse mergers, and startups. They see increased opportunities due to their established industry relationships, enhancing flexibility in addressing asymmetric risk/reward situations.

FG Financial Group (Nasdaq: FGF) reported significant growth in its reinsurance premium, with net premiums rising to $3.0 million for Q2 2022, up from $0.9 million last year. For the first half of 2022, net premiums reached $5.4 million, compared to $1.1 million in 2021. However, the company faced a net loss of $5.9 million in Q2 and $10.2 million for the first half of the year, driven by investment losses. Administrative expenses increased to $2.3 million in Q2 due to headcount growth. Despite challenges, management remains optimistic about long-term growth opportunities.

FG Financial Group, Inc. (FGF) has declared a quarterly cash dividend of $0.50 per share on its 8.00% Cumulative Preferred Stock, Series A. This dividend is for the period from June 15, 2022, to September 14, 2022, and is payable on September 15, 2022, to shareholders of record as of September 1, 2022. The Preferred Stock is listed on the Nasdaq under the ticker symbol FGFPP.

The announcement reflects the Company’s ongoing commitment to providing returns to shareholders while continuing its focus on opportunistic collateralized and loss-capped reinsurance.

Fundamental Global has amended its Schedule 13D to report the acquisition of 632,911 shares of FG Financial Group (FGF), raising its ownership stake to approximately 58.5%. This move is part of the company's strategy to streamline operations and focus on long-term holdings. Notable previous divestitures and management transitions have been highlighted, impacting how FGF shares are reported. CEO D. Kyle Cerminara affirmed the recent purchase as a strategic investment, emphasizing efforts to simplify the organizational structure for better focus on core opportunities.

FG Financial Group, Inc. (NASDAQ:FGF) has closed its underwritten public offering of 2,750,000 shares at $1.58 per share, raising gross proceeds of $4.345 million. This offering allows underwriters a 45-day option to purchase an additional 412,500 shares to cover over-allotments. The company focuses on collateralized and loss capped reinsurance, partnering with Fundamental Global and other strategic investors for investments in SPACs. This press release does not constitute an offer to sell securities in jurisdictions where such offers are unlawful.