F&G Annuities & Life (NYSE:FG) Sees Strong Trading Volume – Still a Buy?

F&G Annuities & Life, Inc. (NYSE:FG) saw unusually-strong trading volume on Wednesday . Approximately 606,671 shares changed hands during mid-day trading, an increase of 167% from the previous session’s volume of 226,958 shares.The stock last traded at $30.6650 and had previously closed at $31.82.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a report on Monday. Zacks Research upgraded shares of F&G Annuities & Life from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Piper Sandler set a $33.00 target price on shares of F&G Annuities & Life in a research report on Tuesday, October 7th. Barclays cut their price target on shares of F&G Annuities & Life from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of F&G Annuities & Life from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat, F&G Annuities & Life presently has a consensus rating of “Moderate Buy” and an average target price of $38.33.

F&G Annuities & Life Stock Performance

The firm’s 50 day moving average price is $31.79 and its 200-day moving average price is $32.13. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 9.03 and a beta of 1.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.27 and a quick ratio of 0.27.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings results on Tuesday, October 3rd. The company reported $1.45 earnings per share for the quarter. The firm had revenue of $496.00 million during the quarter. F&G Annuities & Life had a net margin of 8.40% and a return on equity of 11.41%. On average, analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current year.

F&G Annuities & Life Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. This is a boost from F&G Annuities & Life’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, December 17th. F&G Annuities & Life’s dividend payout ratio (DPR) is 29.33%.

Insider Transactions at F&G Annuities & Life

In other news, CEO Christopher O. Blunt purchased 5,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $29.88 per share, with a total value of $149,400.00. Following the acquisition, the chief executive officer directly owned 1,146,419 shares in the company, valued at approximately $34,254,999.72. The trade was a 0.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of F&G Annuities & Life

Several institutional investors have recently modified their holdings of FG. CSM Advisors LLC acquired a new stake in F&G Annuities & Life during the second quarter worth $3,863,000. American Century Companies Inc. lifted its holdings in shares of F&G Annuities & Life by 23.4% during the 2nd quarter. American Century Companies Inc. now owns 365,343 shares of the company’s stock worth $11,684,000 after acquiring an additional 69,242 shares during the period. DLD Asset Management LP bought a new position in shares of F&G Annuities & Life during the 1st quarter worth about $901,000. Jupiter Asset Management Ltd. acquired a new stake in shares of F&G Annuities & Life during the 2nd quarter valued at about $1,916,000. Finally, MAI Capital Management increased its stake in F&G Annuities & Life by 9,466.0% in the first quarter. MAI Capital Management now owns 19,706 shares of the company’s stock valued at $710,000 after acquiring an additional 19,500 shares during the period. Institutional investors and hedge funds own 95.86% of the company’s stock.

F&G Annuities & Life Company Profile

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.