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

Shares of F&G Annuities & Life, Inc. (NYSE:FG) saw strong trading volume on Tuesday following insider buying activity. 216,731 shares traded hands 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 bought 7,000 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was bought at an average price of $36.00 per share, for a total transaction of $252,000.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were bought at an average cost of $33.60 per share, with a total value of $151,200,000.00. Following the purchase, the insider now directly owns 110,483,243 shares in the company, valued at approximately $3,712,236,964.80. This trade represents a 4.25 % increase in their ownership of the stock. 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 acquired 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 of the company’s stock, valued at $30,551,040.64. The trade was a 1.19 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

FG has been the topic of a number of recent research reports. Stephens restated an “equal weight” rating and issued a $47.00 target price on shares of F&G Annuities & Life in a research note on Monday, February 24th. Barclays lifted 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.

F&G Annuities & Life Stock Performance

The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 7.59 and a beta of 1.72. The firm’s 50 day moving average is $42.00 and its 200-day moving average is $43.02. 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 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 analyst estimates of $1.34 billion. F&G Annuities & Life had a return on equity of 14.14% and a net margin of 11.12%. Sell-side analysts anticipate 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 business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a yield of 2.39%. F&G Annuities & Life’s payout ratio is currently 18.14%.

Hedge Funds Weigh In On F&G Annuities & Life

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