Corgi FTSE Fallen Angels Bond ETF (ANG) Stock Price, News & Analysis

American National Group Inc. (historically associated with the symbol ANG and related preferred share symbols on the New York Stock Exchange) is a Delaware corporation that has issued various preferred stock and debt securities, including fixed-rate reset non-cumulative preferred stock and senior and subordinated notes. According to its SEC filings, American National Group Inc. has listed depositary shares representing fractional interests in preferred stock on the New York Stock Exchange and has also issued senior notes and junior subordinated notes.

The company has used depositary shares, each representing a 1/1,000th interest in a share of preferred stock, as a way to make preferred equity securities accessible to investors. These depositary shares have been associated with different series of preferred stock, such as 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A, 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B, and 7.375% Fixed-Rate Non-Cumulative Preferred Stock, Series D, as reflected in its news releases and SEC filings.

American National Group Inc. has also issued senior notes and junior subordinated notes, including 5.750% Senior Notes due 2029, 6.000% Senior Notes due 2035, and 7.000% Fixed-Rate Reset Junior Subordinated Notes due 2055, as identified in its Form 15 filing. These securities form part of the company’s capital structure and are relevant to investors analyzing its financing and obligations.

American National Group Inc. has reported that its principal executive offices are located in Galveston, Texas, in multiple SEC filings, and a Form 25 filed by the New York Stock Exchange lists an address in West Des Moines, Iowa, as the issuer’s principal executive offices for purposes of that filing. The company’s securities have been listed on the New York Stock Exchange under different trading symbols for its depositary shares tied to preferred stock series.

In addition to its capital markets activities, American National Group Inc. has disclosed in an 8-K filing that it completed the transfer of certain property and casualty insurance subsidiaries—American National Property And Casualty Company, United Farm Family Insurance Company, and Farm Family Casualty Insurance Company—to Argo Group International Holdings, Inc. The filing states that both Argo and American National Group Inc. are wholly-owned subsidiaries of Brookfield Wealth Solutions Ltd., and that the company expects to receive a capital contribution in connection with this transfer, with an intention to use the proceeds to repay outstanding term loans.

American National Group Inc. has also reported regular board actions related to dividends on its preferred stock. In several Form 8-K filings, the company describes board declarations of cash dividends on its Series D Preferred Stock, with corresponding amounts per share and per depositary share, and identifies record and payment dates. These filings illustrate how the company manages distributions on its preferred equity securities.

For investors researching ANG-related securities, it is important to note that the company has taken steps to redeem and delist certain classes of its depositary shares. News releases and related Form 8-K and Form 25 filings describe full redemptions of Series A and Series B preferred depositary shares, suspension of trading on the New York Stock Exchange, and the initiation of deregistration processes with the Securities and Exchange Commission.

Trading status and regulatory actions

According to a Form 25 filed with the SEC, the New York Stock Exchange initiated the removal from listing and/or registration of depositary shares representing a 1/1,000th interest in a share of 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B. The filing indicates that the exchange complied with its rules to strike this class of securities from listing and registration. In a separate Form 15, American National Group Inc. certified the termination of registration under Section 12(g) of the Securities Exchange Act of 1934 for depositary shares representing interests in its 6.625% Series B preferred stock, while listing other securities, including Series D preferred depositary shares and several note issues, as remaining subject to reporting duties.

Press releases incorporated by reference into Form 8-K filings explain that, in connection with the redemption of preferred depositary shares, the New York Stock Exchange suspended trading in those securities prior to the opening of trading on the relevant redemption dates, and that the company intended to file, or had caused to be filed, Form 25 and Form 15 to delist and deregister those depositary shares.

Capital structure and preferred stock

American National Group Inc.’s public disclosures highlight a capital structure that includes multiple series of non-cumulative preferred stock, represented in the market through depositary shares. The company has described the dividend terms on its preferred stock, including fixed-rate reset features and stated dividend rates for Series A, Series B, and Series D. Through news releases and 8-K filings, the company has detailed redemptions of certain series, the funding sources for those redemptions, and subsequent steps to remove the related depositary shares from exchange listing and SEC registration.

The company’s use of fixed-rate reset non-cumulative preferred stock and junior subordinated notes is documented in its filings and reflects financing choices that combine equity-like and debt-like characteristics. Investors examining ANG-related securities can use these filings to understand the priority of claims, dividend policies, and redemption provisions associated with each class of security.

Corporate relationships and asset transfers

In an 8-K filing describing the completion of an asset transfer, American National Group Inc. reports that it transferred its property and casualty subsidiaries to Argo Group International Holdings, Inc. The filing states that both entities are wholly-owned subsidiaries of Brookfield Wealth Solutions Ltd. and notes that the company expects to receive a capital contribution in connection with the transfer, with an intention to use the proceeds to repay term loans. This disclosure provides insight into how the company manages its subsidiary portfolio and capital structure within a broader corporate group.

Use of SEC and exchange processes

American National Group Inc. and the New York Stock Exchange have used formal SEC processes, including Form 25 and Form 15, in connection with the delisting and deregistration of certain depositary shares. The Form 25 filed by the exchange identifies the depositary shares tied to the 6.625% Series B preferred stock as the class of securities being removed from listing and/or registration. The Form 15 filed by the company identifies the depositary shares representing interests in the same preferred stock as the class of securities for which registration is being terminated, while also listing other securities for which reporting duties remain.

For investors, these filings document the regulatory steps taken when a class of securities is redeemed, delisted, or deregistered, and they indicate which securities of American National Group Inc. continue to be subject to ongoing reporting obligations under the Securities Exchange Act of 1934.