F&G Annuities & Life (NYSE:FG) Board of Directors Announces Share Repurchase Plan

F&G Annuities & Life (NYSE:FG) announced that its Board of Directors has approved a share buyback plan on Monday, March 16th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays set a $31.00 target price on F&G Annuities & Life in a research report on Thursday, January 8th. Zacks Research downgraded shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Wall Street Zen cut shares of F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, F&G Annuities & Life has a consensus rating of “Reduce” and an average price target of $32.00.

F&G Annuities & Life Price Performance

Shares of NYSE:FG traded up $0.04 during midday trading on Wednesday, reaching $23.70. The company’s stock had a trading volume of 689,218 shares, compared to its average volume of 689,417. The business’s fifty day simple moving average is $26.16 and its 200-day simple moving average is $29.80. F&G Annuities & Life has a fifty-two week low of $20.57 and a fifty-two week high of $42.84. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market capitalization of $3.21 billion, a P/E ratio of 12.95 and a beta of 1.59.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.43). The firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $1.55 billion. F&G Annuities & Life had a net margin of 4.62% and a return on equity of 10.48%. As a group, equities research analysts expect that F&G Annuities & Life will post 5.54 EPS for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.00 annualized dividend and a yield of 4.2%. F&G Annuities & Life’s payout ratio is presently 54.64%.

Insider Buying and Selling at F&G Annuities & Life

In other F&G Annuities & Life news, CEO Christopher O. Blunt bought 10,000 shares of F&G Annuities & Life stock in a transaction on Friday, March 13th. The shares were purchased at an average cost of $20.99 per share, with a total value of $209,900.00. Following the acquisition, the chief executive officer directly owned 1,107,128 shares of the company’s stock, valued at $23,238,616.72. The trade was a 0.91% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Celina J. Wang Doka acquired 4,760 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $20.98 per share, with a total value of $99,864.80. Following the completion of the transaction, the director owned 32,071 shares in the company, valued at approximately $672,849.58. This represents a 17.43% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 19,760 shares of company stock worth $457,565. 2.10% of the stock is currently owned by company insiders.

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.