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

F&G Annuities & Life, Inc. (NYSE:FG)’s share price shot 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. 75,464 shares were traded during trading, a decline of 25% from the average session volume of 100,227 shares. The stock had previously closed at $35.21.

Specifically, EVP Michael L. Gravelle acquired 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average cost of $36.00 per share, with a total value of $252,000.00. Following the completion of 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder National Financial I. Fidelity bought 4,500,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was acquired at an average cost of $33.60 per share, with a total value of $151,200,000.00. Following the transaction, the insider now owns 110,483,243 shares in the company, 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 purchased 10,000 shares of the company’s stock in a transaction dated 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 directly owns 849,584 shares in the company, valued at $30,551,040.64. The trade was a 1.19 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

FG has been the subject of several research reports. Stephens reissued an “equal weight” rating and set a $47.00 price objective on shares of F&G Annuities & Life in a report on Monday, February 24th. Barclays lifted their target price 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.

F&G Annuities & Life Stock Performance

The company has a market cap of $4.56 billion, a P/E ratio of 7.42 and a beta of 1.72. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $42.14 and a two-hundred day simple moving average of $43.06.

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 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%. On average, sell-side analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of F&G Annuities & Life by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 201,582 shares of the company’s stock worth $9,015,000 after purchasing an additional 10,584 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in F&G Annuities & Life in the 3rd quarter worth $381,000. Hotchkis & Wiley Capital Management LLC bought a new stake in F&G Annuities & Life during the third quarter valued at about $6,369,000. Point72 Asset Management L.P. purchased a new position in shares of F&G Annuities & Life in the third quarter valued at about $521,000. Finally, State Street Corp boosted its stake in shares of F&G Annuities & Life by 1.2% in the third quarter. State Street Corp now owns 413,210 shares of the company’s stock worth $18,479,000 after acquiring an additional 4,910 shares during the period. 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.