F&G Annuities & Life (NYSE:FG) Trading 2.7% Higher on Insider Buying Activity

F&G Annuities & Life, Inc. (NYSE:FG) was up 2.7% on Monday after an insider bought additional shares in the company. The stock traded as high as $36.16 and last traded at $36.16. Approximately 75,464 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 100,227 shares. The stock had previously closed at $35.21.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FG shares. Barclays boosted their price target on F&G Annuities & Life from $46.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Stephens reiterated an “equal weight” rating and issued a $47.00 price objective on shares of F&G Annuities & Life in a research report on Monday, February 24th.

F&G Annuities & Life Stock Performance

The company’s 50-day moving average price is $42.00 and its 200 day moving average price is $43.02. The stock has a market capitalization of $4.67 billion, a PE ratio of 7.59 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 released its quarterly earnings results on Thursday, February 20th. The company reported $1.12 earnings per share (EPS) 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 return on equity of 14.14% and a net margin of 11.12%. On average, equities research analysts expect that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, March 17th. F&G Annuities & Life’s payout ratio is presently 18.14%.

Institutional Investors Weigh In On F&G Annuities & Life

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new stake in shares of F&G Annuities & Life during the 4th quarter valued at $72,007,000. Norges Bank purchased a new position in F&G Annuities & Life during the 4th quarter valued at about $14,321,000. Hotchkis & Wiley Capital Management LLC purchased a new position in F&G Annuities & Life during the 3rd quarter valued at about $6,369,000. Fisher Funds Management LTD bought a new stake in F&G Annuities & Life during the fourth quarter worth about $5,421,000. Finally, Kelly Financial Group LLC purchased a new stake in F&G Annuities & Life in the fourth quarter worth about $4,144,000. 95.86% of the stock is owned by hedge funds and other institutional investors.

About F&G Annuities & Life

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.