Stock Repurchase Program Approved by F&G Annuities & Life (NYSE:FG) Board

F&G Annuities & Life (NYSE:FG) declared that its board has initiated a share buyback plan on Monday, March 16th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

F&G Annuities & Life Stock Up 0.2%

Shares of NYSE FG traded up $0.04 during mid-day trading on Wednesday, reaching $23.70. The company had a trading volume of 689,218 shares, compared to its average volume of 689,417. The stock has a market capitalization of $3.21 billion, a PE ratio of 12.95 and a beta of 1.59. F&G Annuities & Life has a twelve month low of $20.57 and a twelve month high of $42.84. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.26 and a current ratio of 0.26. The stock’s 50 day moving average is $26.16 and its 200-day moving average is $29.80.

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

F&G Annuities & Life Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at F&G Annuities & Life

In other F&G Annuities & Life news, Director Celina J. Wang Doka bought 4,760 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $20.98 per share, for a total transaction of $99,864.80. Following the transaction, the director owned 32,071 shares in the company, valued at approximately $672,849.58. The trade was a 17.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher O. Blunt bought 10,000 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average cost of $20.99 per share, for a total transaction of $209,900.00. Following the purchase, the chief executive officer owned 1,107,128 shares of the company’s stock, valued at $23,238,616.72. This trade represents a 0.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 19,760 shares of company stock valued at $457,565. Corporate insiders own 2.10% of the company’s stock.

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.