F&G Annuities & Life (NYSE:FG) Shares Gap Up – Here’s Why

F&G Annuities & Life, Inc. (NYSE:FG) shares gapped up prior to trading on Tuesday . The stock had previously closed at $22.14, but opened at $23.16. F&G Annuities & Life shares last traded at $23.9260, with a volume of 207,407 shares trading hands.

Analyst Upgrades and Downgrades

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

F&G Annuities & Life Price Performance

The company has a 50-day moving average of $26.37 and a 200-day moving average of $29.92. 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 has a market cap of $3.21 billion, a price-to-earnings ratio of 12.94 and a beta of 1.59.

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

F&G Annuities & Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, March 17th. F&G Annuities & Life’s dividend payout ratio (DPR) is 54.64%.

Insider Buying and Selling at F&G Annuities & Life

In other news, Director Celina J. Wang Doka acquired 4,760 shares of the company’s stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $20.98 per share, with a total value of $99,864.80. Following the purchase, the director owned 32,071 shares of the company’s stock, valued at $672,849.58. This represents a 17.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher O. Blunt acquired 10,000 shares of the business’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $20.99 per share, with a total value of $209,900.00. Following the transaction, the chief executive officer owned 1,107,128 shares in the company, valued at $23,238,616.72. The trade was a 0.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 19,760 shares of company stock worth $457,565 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in 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 valued at $117,470,000 after purchasing an additional 1,753,709 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of F&G Annuities & Life by 33.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,121,563 shares of the company’s stock valued at $34,605,000 after buying an additional 280,594 shares during the period. State Street Corp lifted its holdings in shares of F&G Annuities & Life by 93.6% in the 4th quarter. State Street Corp now owns 847,443 shares of the company’s stock valued at $26,144,000 after buying an additional 409,743 shares during the period. Geode Capital Management LLC boosted its stake in shares of F&G Annuities & Life by 44.2% in the fourth quarter. Geode Capital Management LLC now owns 736,885 shares of the company’s stock valued at $22,735,000 after buying an additional 225,817 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of F&G Annuities & Life by 870.1% in the third quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock valued at $20,085,000 after buying an additional 576,102 shares in the last quarter. 95.86% of the stock is owned by hedge funds and other institutional investors.

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.