F&G Annuities & Life, Inc. (NYSE:FG) Major Shareholder Acquires $151,200,000.00 in Stock

F&G Annuities & Life, Inc. (NYSE:FG) major shareholder National Financial I. Fidelity purchased 4,500,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of $33.60 per share, with a total value of $151,200,000.00. Following the purchase, the insider now owns 110,483,243 shares in the company, valued at approximately $3,712,236,964.80. This trade represents a 4.25 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

F&G Annuities & Life Stock Performance

Shares of F&G Annuities & Life stock opened at $35.18 on Monday. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 7.25 and a beta of 1.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.25 and a quick ratio of 0.25. The business has a 50-day moving average of $42.30 and a 200 day moving average of $43.08. F&G Annuities & Life, Inc. has a 12 month low of $34.08 and a 12 month high of $50.75.

F&G Annuities & Life (NYSE:FG) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.13). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.34 billion. F&G Annuities & Life had a net margin of 11.12% and a return on equity of 14.14%. As a group, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, March 17th. F&G Annuities & Life’s dividend payout ratio is currently 18.14%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriflex Group Inc. purchased a new stake in F&G Annuities & Life during the 4th quarter worth about $144,000. Mackenzie Financial Corp purchased a new stake in shares of F&G Annuities & Life during the fourth quarter worth approximately $210,000. Castlekeep Investment Advisors LLC acquired a new stake in F&G Annuities & Life in the fourth quarter valued at approximately $1,717,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in F&G Annuities & Life by 16.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,056 shares of the company’s stock worth $2,074,000 after acquiring an additional 7,076 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in F&G Annuities & Life by 60.6% in the fourth quarter. Point72 Asset Management L.P. now owns 18,713 shares of the company’s stock worth $775,000 after acquiring an additional 7,063 shares during the last quarter. 95.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on FG shares. Stephens reaffirmed an “equal weight” rating and issued a $47.00 price target on shares of F&G Annuities & Life in a research note on Monday, February 24th. Barclays boosted their price target on shares of F&G Annuities & Life from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th.

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.