F&G Annuities & Life, Inc. $FG Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 85.4% in the 4th quarter, HoldingsChannel reports. The firm owned 3,807,765 shares of the company’s stock after purchasing an additional 1,753,709 shares during the period. Vanguard Group Inc.’s holdings in F&G Annuities & Life were worth $117,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in F&G Annuities & Life by 12.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 840,969 shares of the company’s stock valued at $26,299,000 after acquiring an additional 94,394 shares during the last quarter. Ameriprise Financial Inc. increased its stake in F&G Annuities & Life by 870.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock valued at $20,085,000 after purchasing an additional 576,102 shares in the last quarter. Denali Advisors LLC increased its stake in F&G Annuities & Life by 28.7% in the 3rd quarter. Denali Advisors LLC now owns 223,161 shares of the company’s stock valued at $6,978,000 after purchasing an additional 49,728 shares in the last quarter. Millennium Management LLC increased its stake in F&G Annuities & Life by 330.8% in the 1st quarter. Millennium Management LLC now owns 217,306 shares of the company’s stock valued at $7,834,000 after purchasing an additional 166,863 shares in the last quarter. Finally, Ancora Advisors LLC grew its holdings in F&G Annuities & Life by 51.9% during the 3rd quarter. Ancora Advisors LLC now owns 192,549 shares of the company’s stock valued at $6,021,000 after buying an additional 65,820 shares during the last quarter. 95.86% of the stock is owned by hedge funds and other institutional investors.

F&G Annuities & Life Trading Up 1.1%

NYSE:FG opened at $28.05 on Wednesday. F&G Annuities & Life, Inc. has a 12 month low of $20.57 and a 12 month high of $36.70. The firm has a market capitalization of $3.72 billion, a PE ratio of 7.36 and a beta of 1.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.29 and a quick ratio of 0.29. The business’s 50-day moving average is $25.30 and its two-hundred day moving average is $28.29.

F&G Annuities & Life (NYSE:FG) last announced its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.46 billion. Research analysts predict that F&G Annuities & Life, Inc. will post 3.8 earnings per share for the current fiscal year.

F&G Annuities & Life declared that its board has initiated a stock buyback plan on Monday, March 16th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

F&G Annuities & Life Dividend Announcement

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

Insider Transactions at F&G Annuities & Life

In other news, Director Celina J. Wang Doka purchased 4,760 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $20.98 per share, for a total transaction of $99,864.80. Following the completion of the purchase, the director owned 32,071 shares of the company’s stock, valued at approximately $672,849.58. This trade represents a 17.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher O. Blunt purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average price of $20.99 per share, with a total value of $209,900.00. Following the completion of the purchase, the chief executive officer directly 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 SEC filing for this purchase provides additional information. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

About F&G Annuities & Life

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.