AustralianSuper Pty Ltd Takes 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) in the 4th quarter, Holdings Channel.com reports. The fund acquired 31,717 shares of the company’s stock, valued at approximately $978,000.

A number of other hedge funds have also recently modified their holdings of FG. Vanguard Group Inc. grew its position in shares of F&G Annuities & Life by 85.4% in the 4th quarter. Vanguard Group Inc. now owns 3,807,765 shares of the company’s stock worth $117,470,000 after buying an additional 1,753,709 shares during the period. Dimensional Fund Advisors LP boosted its stake in F&G Annuities & Life by 12.6% during the third quarter. Dimensional Fund Advisors LP now owns 840,969 shares of the company’s stock worth $26,299,000 after acquiring an additional 94,394 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in F&G Annuities & Life by 870.1% during the third quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock worth $20,085,000 after acquiring an additional 576,102 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in F&G Annuities & Life during the fourth quarter worth about $11,312,000. Finally, Denali Advisors LLC boosted its stake in F&G Annuities & Life by 8.3% during the fourth quarter. Denali Advisors LLC now owns 241,661 shares of the company’s stock worth $7,455,000 after acquiring an additional 18,500 shares in the last quarter. Institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Stock Down 1.8%

F&G Annuities & Life stock opened at $28.07 on Friday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 7.37 and a beta of 1.28. The stock has a fifty day simple moving average of $25.63 and a two-hundred day simple moving average of $28.28. F&G Annuities & Life, Inc. has a 12 month low of $20.57 and a 12 month high of $36.70. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.47.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 EPS 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 firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $1.46 billion. Equities analysts predict that F&G Annuities & Life, Inc. will post 3.8 EPS for the current fiscal year.

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

F&G Annuities & Life Dividend Announcement

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

Insider Buying and Selling at F&G Annuities & Life

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

Analysts Set New Price Targets

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