F&G Annuities & Life (NYSE:FG) Sees Unusually-High Trading Volume Following Insider Buying Activity

Shares of F&G Annuities & Life, Inc. (NYSE:FG) saw strong trading volume on Tuesday after an insider bought additional shares in the company. 216,731 shares were traded during trading, an increase of 111% from the previous session’s volume of 102,571 shares.The stock last traded at $35.97 and had previously closed at $36.05.

Specifically, EVP Michael L. Gravelle acquired 7,000 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was purchased at an average cost of $36.00 per share, for a total transaction of $252,000.00. Following the completion of the purchase, the executive vice president now directly owns 33,540 shares of the company’s stock, valued at $1,207,440. The trade was a 26.38 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder National Financial I. Fidelity bought 4,500,000 shares of F&G Annuities & Life stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $33.60 per share, for a total transaction of $151,200,000.00. Following the completion of the acquisition, the insider now directly owns 110,483,243 shares in the company, valued at $3,712,236,964.80. This represents a 4.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, CEO Christopher O. Blunt acquired 10,000 shares of F&G Annuities & Life stock in a transaction on Thursday, March 27th. The shares were purchased at an average price of $35.96 per share, with a total value of $359,600.00. Following the acquisition, the chief executive officer now owns 849,584 shares in the company, valued at $30,551,040.64. This represents a 1.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays lifted their target price on F&G Annuities & Life from $46.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Stephens restated an “equal weight” rating and issued a $47.00 price target on shares of F&G Annuities & Life in a research note on Monday, February 24th.

F&G Annuities & Life Price Performance

The business has a 50 day moving average price of $42.14 and a 200-day moving average price of $43.06. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 7.41 and a beta of 1.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.25 and a current ratio of 0.25.

F&G Annuities & Life (NYSE:FG) last announced its earnings results on Thursday, February 20th. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.13). The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.34 billion. F&G Annuities & Life had a net margin of 11.12% and a return on equity of 14.14%. Research analysts predict that F&G Annuities & Life, Inc. will post 5.54 EPS for the current fiscal year.

F&G Annuities & Life Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Monday, March 17th. F&G Annuities & Life’s dividend payout ratio is 18.14%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriflex Group Inc. bought a new stake in shares of F&G Annuities & Life in the 4th quarter worth approximately $144,000. Mackenzie Financial Corp bought a new stake in F&G Annuities & Life during the fourth quarter valued at about $210,000. Castlekeep Investment Advisors LLC bought a new stake in F&G Annuities & Life during the 4th quarter worth approximately $1,717,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in F&G Annuities & Life by 16.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,056 shares of the company’s stock worth $2,074,000 after buying an additional 7,076 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in F&G Annuities & Life by 60.6% during the 4th quarter. Point72 Asset Management L.P. now owns 18,713 shares of the company’s stock valued at $775,000 after buying an additional 7,063 shares in the last quarter. Institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Company Profile

F&G Annuities & Life, Inc engages in the provision of fixed annuity and life insurance products. It specializes in life insurance, annuities, retirement planning and wealth transfer. The company was founded in 1959 and is headquartered in Des Moines, IA.