F&G Annuities & Life (NYSE:FG) Sees Unusually-High Trading Volume – Here’s Why

by · The Cerbat Gem

Shares of F&G Annuities & Life, Inc. (NYSE:FG – Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 606,671 shares were traded during 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

FG has been the topic of several recent research reports. 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. Zacks Research upgraded shares of F&G Annuities & Life from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Piper Sandler set a $33.00 price objective on shares of F&G Annuities & Life in a research note on Tuesday, October 7th. Barclays lowered their target price on shares of F&G Annuities & Life from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, F&G Annuities & Life currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Get Our Latest Stock Report on F&G Annuities & Life

F&G Annuities & Life Stock Performance

The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.45. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 9.00 and a beta of 1.44. The stock’s fifty day moving average is $31.73 and its 200-day moving average is $32.14.

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

F&G Annuities & Life Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This is a positive change from F&G Annuities & Life’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. F&G Annuities & Life’s payout ratio is presently 29.33%.

Insider Activity

In other F&G Annuities & Life news, CEO Christopher O. Blunt purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were bought at an average price of $29.88 per share, with a total value of $149,400.00. Following the completion of the transaction, the chief executive officer directly owned 1,146,419 shares in the company, valued at $34,254,999.72. This trade represents a 0.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On F&G Annuities & Life

A number of large investors have recently added to or reduced their stakes in FG. Ameriprise Financial Inc. lifted its holdings 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 purchasing an additional 576,102 shares in the last quarter. Norges Bank acquired a new stake in F&G Annuities & Life in the 2nd quarter valued at approximately $8,503,000. Interval Partners LP acquired a new stake in F&G Annuities & Life in the 1st quarter valued at approximately $8,639,000. Alyeska Investment Group L.P. bought a new stake in F&G Annuities & Life in the 1st quarter valued at approximately $6,229,000. Finally, Millennium Management LLC lifted its stake in F&G Annuities & Life by 330.8% in the 1st quarter. Millennium Management LLC now owns 217,306 shares of the company’s stock valued at $7,834,000 after acquiring an additional 166,863 shares in the last quarter. Institutional investors own 95.86% of the company’s stock.

About F&G Annuities & Life

(Get Free Report)

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.

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