F&G Annuities & Life (NYSE:FG) Shares Up 2.7% Following Insider Buying Activity

F&G Annuities & Life, Inc. (NYSE:FG) traded up 2.7% during trading on Monday after an insider bought additional shares in the company. The company traded as high as $36.16 and last traded at $36.16. 75,464 shares changed hands during mid-day 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 bought 7,000 shares of F&G Annuities & Life stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average cost of $36.00 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the executive vice president now owns 33,540 shares of the company’s stock, valued at $1,207,440. This represents a 26.38 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder National Financial I. Fidelity purchased 4,500,000 shares of the stock in a transaction on Monday, March 24th. The stock was acquired at an average price of $33.60 per share, with a total value of $151,200,000.00. Following the acquisition, the insider now directly owns 110,483,243 shares in the company, valued at $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 acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were acquired at an average cost of $35.96 per share, for a total transaction of $359,600.00. Following the acquisition, the chief executive officer now directly 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 acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stephens reaffirmed an “equal weight” rating and set a $47.00 price target on shares of F&G Annuities & Life in a research report on Monday, February 24th. Barclays upped their price objective 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.

F&G Annuities & Life Stock Performance

The stock’s 50-day moving average is $42.30 and its 200-day moving average is $43.08. 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 stock has a market cap of $4.60 billion, a price-to-earnings ratio of 7.46 and a beta of 1.72.

F&G Annuities & Life (NYSE:FG) last announced its quarterly 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). F&G Annuities & Life had a net margin of 11.12% and a return on equity of 14.14%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.34 billion. On average, analysts expect 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 will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Monday, March 17th. F&G Annuities & Life’s dividend payout ratio is presently 18.14%.

Institutional Trading of F&G Annuities & Life

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

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.