Fidelity National Financial Inc. Has $2.92 Billion Stake in F&G Annuities & Life, Inc. $FG

Fidelity National Financial Inc. lessened its holdings in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,662,347 shares of the company’s stock after selling 16,280,204 shares during the period. F&G Annuities & Life accounts for about 88.3% of Fidelity National Financial Inc.’s investment portfolio, making the stock its biggest holding. Fidelity National Financial Inc. owned 0.70% of F&G Annuities & Life worth $2,920,333,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Elevated Capital Advisors LLC bought a new stake in shares of F&G Annuities & Life during the fourth quarter valued at approximately $27,000. Hantz Financial Services Inc. raised its holdings in shares of F&G Annuities & Life by 29,066.7% during the fourth quarter. Hantz Financial Services Inc. now owns 875 shares of the company’s stock valued at $27,000 after buying an additional 872 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of F&G Annuities & Life by 432.6% during the fourth quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after buying an additional 757 shares during the last quarter. Allworth Financial LP raised its holdings in shares of F&G Annuities & Life by 276.0% during the fourth quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock valued at $36,000 after buying an additional 861 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of F&G Annuities & Life by 83.8% during the third quarter. EverSource Wealth Advisors LLC now owns 1,211 shares of the company’s stock valued at $38,000 after buying an additional 552 shares during the last quarter. Institutional investors own 95.86% of the company’s stock.

Insider Buying and Selling

In other F&G Annuities & Life news, CEO Christopher O. Blunt bought 10,000 shares of F&G Annuities & Life stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $20.99 per share, for a total transaction of $209,900.00. Following the completion of the acquisition, the chief executive officer owned 1,107,128 shares of the company’s stock, valued at approximately $23,238,616.72. This represents a 0.91% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Celina J. Wang Doka acquired 4,760 shares of the business’s stock in a transaction on Friday, March 13th. The shares were bought at an average price of $20.98 per share, for a total transaction of $99,864.80. Following the acquisition, the director owned 32,071 shares in the company, valued at approximately $672,849.58. This trade represents a 17.43% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FG. Wall Street Zen cut F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Friday, March 27th. Raymond James Financial started coverage on shares of F&G Annuities & Life in a research report on Wednesday, May 6th. They issued a “market perform” rating for the company. Zacks Research upgraded shares of F&G Annuities & Life to a “hold” rating in a research report on Thursday, May 7th. Finally, Barclays decreased their target price on shares of F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, F&G Annuities & Life currently has a consensus rating of “Hold” and a consensus price target of $30.00.

F&G Annuities & Life Stock Up 1.8%

FG opened at $28.73 on Thursday. The company has a market capitalization of $3.81 billion, a PE ratio of 7.54 and a beta of 1.22. F&G Annuities & Life, Inc. has a one year low of $20.57 and a one year high of $36.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.29 and a current ratio of 0.29. The stock’s fifty day moving average is $27.24 and its 200-day moving average is $27.87.

F&G Annuities & Life (NYSE:FG) last issued its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $1.46 billion. F&G Annuities & Life had a return on equity of 10.73% and a net margin of 8.89%. On average, equities analysts predict that F&G Annuities & Life, Inc. will post 3.78 EPS for the current fiscal year.

F&G Annuities & Life declared that its Board of Directors has approved a stock repurchase program on Monday, March 16th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

F&G Annuities & Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, June 16th. F&G Annuities & Life’s dividend payout ratio (DPR) is presently 26.25%.

F&G Annuities & Life Company Profile

F&G Annuities & Life is the principal life insurance and annuity subsidiary of F&G Financial Group, Inc (NYSE: FG), a publicly traded financial services holding company headquartered in Des Moines, Iowa. The company focuses on designing and issuing retirement income solutions that address longevity risk, capital preservation, and wealth transfer for individual and institutional clients.

Its product suite includes fixed indexed annuities, which offer the potential for market-linked growth with downside protection; fixed-rate annuities, delivering guaranteed interest over a defined term; and a range of life insurance policies such as term, universal, and variable universal life.