F&G Annuities & Life (NYSE:FG) Sees Strong Trading Volume on Insider Buying Activity

F&G Annuities & Life, Inc. (NYSE:FG) saw an uptick in trading volume on Tuesday following insider buying activity. 216,731 shares traded hands during trading, an increase of 111% from the previous session’s volume of 102,571 shares.The stock last traded at $35.97 and had previously closed at $36.05.

Specifically, EVP Michael L. Gravelle purchased 7,000 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average price of $36.00 per share, for a total transaction of $252,000.00. Following the completion of the acquisition, the executive vice president now owns 33,540 shares of the company’s stock, valued at approximately $1,207,440. This trade represents a 26.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder National Financial I. Fidelity acquired 4,500,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were acquired at an average price of $33.60 per share, for a total transaction of $151,200,000.00. Following the completion of the purchase, the insider now owns 110,483,243 shares of the company’s stock, valued at approximately $3,712,236,964.80. This represents a 4.25 % increase in their position. The disclosure for this purchase can be found here. In other F&G Annuities & Life news, CEO Christopher O. Blunt bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average cost of $35.96 per share, for a total transaction of $359,600.00. Following the purchase, the chief executive officer now directly owns 849,584 shares in the company, valued at $30,551,040.64. This represents a 1.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

FG has been the topic of several recent research reports. Stephens reaffirmed an “equal weight” rating and issued a $47.00 price target on shares of F&G Annuities & Life in a report on Monday, February 24th. Barclays lifted 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 Price Performance

The stock has a market capitalization of $4.56 billion, a PE ratio of 7.41 and a beta of 1.72. The stock’s 50-day moving average is $42.14 and its 200 day moving average is $43.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.25 and a current ratio of 0.25.

F&G Annuities & Life (NYSE:FG) last issued its earnings results on Thursday, February 20th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.13). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.34 billion. F&G Annuities & Life had a return on equity of 14.14% and a net margin of 11.12%. As a group, equities analysts expect that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current year.

F&G Annuities & Life Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Monday, March 17th. F&G Annuities & Life’s dividend payout ratio is currently 18.14%.

Institutional Investors Weigh In On F&G Annuities & Life

Institutional investors have recently bought and sold shares of the business. Ameriflex Group Inc. purchased a new position in shares of F&G Annuities & Life in the fourth quarter valued at $144,000. Mackenzie Financial Corp bought a new stake in shares of F&G Annuities & Life during the 4th quarter valued at about $210,000. Castlekeep Investment Advisors LLC bought a new stake in shares of F&G Annuities & Life in the 4th quarter worth approximately $1,717,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 purchasing an additional 7,076 shares during the period. Finally, Point72 Asset Management L.P. boosted 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 during the period. 95.86% of the stock is currently owned by hedge funds and other institutional investors.

F&G Annuities & Life Company Profile

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.