F&G Annuities & Life (NYSE:FG) Sees Large Volume Increase Following Insider Buying Activity

Shares of F&G Annuities & Life, Inc. (NYSE:FG) saw unusually-strong trading volume on Tuesday following insider buying activity. Approximately 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 purchased 7,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was bought at an average cost of $36.00 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the executive vice president now directly owns 33,540 shares in the company, valued at $1,207,440. This represents a 26.38 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder National Financial I. Fidelity acquired 4,500,000 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $33.60 per share, for a total transaction of $151,200,000.00. Following the purchase, the insider now owns 110,483,243 shares of the company’s stock, valued at $3,712,236,964.80. The trade was a 4.25 % increase in their position. The disclosure for this purchase can be found here. In related news, CEO Christopher O. Blunt bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of $35.96 per share, for a total transaction of $359,600.00. Following the purchase, the chief executive officer now directly owns 849,584 shares in the company, valued at $30,551,040.64. This trade represents a 1.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analyst Weigh In

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

F&G Annuities & Life Stock Performance

The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 7.59 and a beta of 1.72. The stock has a fifty day moving average price of $42.00 and a 200-day moving average price of $43.02.

F&G Annuities & Life (NYSE:FG) last announced its quarterly earnings results on Thursday, February 20th. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.13). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.34 billion. F&G Annuities & Life had a net margin of 11.12% and a return on equity of 14.14%. As a group, analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 earnings per share 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. Investors of record on Monday, March 17th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Monday, March 17th. F&G Annuities & Life’s dividend payout ratio (DPR) is currently 18.14%.

Hedge Funds Weigh In On F&G Annuities & Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC acquired a new stake in shares of F&G Annuities & Life during the fourth quarter worth approximately $72,007,000. State Street Corp increased its holdings in F&G Annuities & Life by 1.2% during the 3rd quarter. State Street Corp now owns 413,210 shares of the company’s stock valued at $18,479,000 after purchasing an additional 4,910 shares in the last quarter. Dimensional Fund Advisors LP raised its position in F&G Annuities & Life by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 413,202 shares of the company’s stock valued at $17,123,000 after purchasing an additional 42,081 shares during the last quarter. Geode Capital Management LLC raised its position in F&G Annuities & Life by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,047 shares of the company’s stock valued at $18,117,000 after purchasing an additional 3,453 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of F&G Annuities & Life during the fourth quarter worth $14,321,000. 95.86% of the stock is currently owned by institutional investors and hedge funds.

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.