AustralianSuper Pty Ltd Takes $978,000 Position in F&G Annuities & Life, Inc. $FG

AustralianSuper Pty Ltd acquired a new stake in shares of F&G Annuities & Life, Inc. (NYSE:FG) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 31,717 shares of the company’s stock, valued at approximately $978,000.

Other institutional investors have also recently modified their holdings of the company. Elevated Capital Advisors LLC bought a new position in shares of F&G Annuities & Life during the 4th quarter valued at about $27,000. GAMMA Investing LLC increased its position in shares of F&G Annuities & Life by 432.6% during the 4th quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after purchasing an additional 757 shares during the last quarter. Allworth Financial LP increased its position in shares of F&G Annuities & Life by 276.0% during the 4th quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock valued at $36,000 after purchasing an additional 861 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of F&G Annuities & Life by 83.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,211 shares of the company’s stock valued at $38,000 after purchasing an additional 552 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of F&G Annuities & Life during the 4th quarter valued at about $39,000. 95.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

F&G Annuities & Life Trading Down 1.8%

NYSE FG opened at $28.07 on Friday. F&G Annuities & Life, Inc. has a fifty-two week low of $20.57 and a fifty-two week 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 has a 50 day simple moving average of $25.63 and a two-hundred day simple moving average of $28.28. The stock has a market cap of $3.72 billion, a P/E ratio of 7.37 and a beta of 1.28.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.08). F&G Annuities & Life had a return on equity of 10.73% and a net margin of 8.89%.The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $1.46 billion. On average, analysts forecast that F&G Annuities & Life, Inc. will post 3.8 earnings per share for the current year.

F&G Annuities & Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 annualized dividend and a yield of 3.6%. F&G Annuities & Life’s dividend payout ratio (DPR) is 26.25%.

F&G Annuities & Life declared that its board has approved a share buyback plan on Monday, March 16th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at F&G Annuities & Life

In other F&G Annuities & Life news, CEO Christopher O. Blunt acquired 10,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $20.99 per share, for a total transaction of $209,900.00. Following the acquisition, the chief executive officer owned 1,107,128 shares in the company, valued at $23,238,616.72. This represents a 0.91% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Celina J. Wang Doka acquired 4,760 shares of the company’s stock in a transaction on Friday, March 13th. The stock was acquired at an average price of $20.98 per share, with a total value 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. The disclosure for this purchase is available in the SEC filing. Company insiders own 2.10% of the company’s stock.

F&G Annuities & Life 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.