JPMorgan Chase & Co. Boosts Holdings in F&G Annuities & Life, Inc. $FG

JPMorgan Chase & Co. boosted its position in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 63.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,847 shares of the company’s stock after acquiring an additional 25,644 shares during the period. JPMorgan Chase & Co.’s holdings in F&G Annuities & Life were worth $2,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Denali Advisors LLC lifted its position in F&G Annuities & Life by 28.7% during the third quarter. Denali Advisors LLC now owns 223,161 shares of the company’s stock valued at $6,978,000 after acquiring an additional 49,728 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in F&G Annuities & Life during the third quarter valued at approximately $1,434,000. Parkwood LLC lifted its position in F&G Annuities & Life by 32.0% during the second quarter. Parkwood LLC now owns 205,944 shares of the company’s stock valued at $6,586,000 after acquiring an additional 49,883 shares during the last quarter. New York State Common Retirement Fund lifted its position in F&G Annuities & Life by 457.7% during the second quarter. New York State Common Retirement Fund now owns 55,320 shares of the company’s stock valued at $1,769,000 after acquiring an additional 45,400 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in F&G Annuities & Life during the third quarter valued at approximately $772,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a report on Friday, March 27th. Wall Street Zen raised shares of F&G Annuities & Life from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Barclays set a $31.00 price target on shares of F&G Annuities & Life in a report on Thursday, January 8th. Finally, Zacks Research cut shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, F&G Annuities & Life presently has a consensus rating of “Reduce” and a consensus price target of $32.00.

Insiders Place Their Bets

In other F&G Annuities & Life news, CEO Christopher O. Blunt acquired 10,000 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $20.99 per share, for a total transaction of $209,900.00. Following the completion of the purchase, the chief executive officer directly owned 1,107,128 shares of the company’s stock, valued at $23,238,616.72. The trade was a 0.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Celina J. Wang Doka acquired 4,760 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $20.98 per share, for a total transaction of $99,864.80. Following the purchase, the director directly owned 32,071 shares of the company’s stock, valued at approximately $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. 2.10% of the stock is owned by corporate insiders.

F&G Annuities & Life Trading Up 1.1%

NYSE FG opened at $26.34 on Tuesday. The company has a fifty day simple moving average of $25.36 and a two-hundred day simple moving average of $28.89. The stock has a market cap of $3.57 billion, a P/E ratio of 14.39 and a beta of 1.28. F&G Annuities & Life, Inc. has a 12-month low of $20.57 and a 12-month high of $37.01. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.45.

F&G Annuities & Life (NYSE:FG) last released 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 business had revenue of $739.00 million during 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%. On average, analysts forecast that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current year.

F&G Annuities & Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.8%. F&G Annuities & Life’s dividend payout ratio is presently 54.64%.

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

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.