DAVENPORT & Co LLC Acquires Shares of 62,320 F&G Annuities & Life, Inc. $FG

DAVENPORT & Co LLC acquired a new stake in shares of F&G Annuities & Life, Inc. (NYSE:FG) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 62,320 shares of the company’s stock, valued at approximately $1,923,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in FG. Harbor Capital Advisors Inc. increased its stake in shares of F&G Annuities & Life by 474.5% in the third quarter. Harbor Capital Advisors Inc. now owns 902 shares of the company’s stock worth $28,000 after buying an additional 745 shares during the period. GAMMA Investing LLC raised its holdings in F&G Annuities & Life by 432.6% during the 4th quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after buying an additional 757 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in F&G Annuities & Life by 83.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,211 shares of the company’s stock valued at $38,000 after buying an additional 552 shares during the period. Board of the Pension Protection Fund bought a new stake in F&G Annuities & Life in the 4th quarter worth $52,000. Finally, Ameritas Investment Partners Inc. grew its holdings in F&G Annuities & Life by 18.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,174 shares of the company’s stock worth $70,000 after acquiring an additional 337 shares during the last quarter. Institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Price Performance

Shares of NYSE FG opened at $24.23 on Friday. F&G Annuities & Life, Inc. has a 1 year low of $20.57 and a 1 year high of $37.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.26 and a quick ratio of 0.26. The company’s 50-day moving average is $25.63 and its 200 day moving average is $29.28. The stock has a market capitalization of $3.29 billion, a P/E ratio of 13.24 and a beta of 1.59.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.91 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.43). The company had revenue of $739.00 million during the quarter, compared to analysts’ expectations 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, sell-side analysts expect that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current year.

F&G Annuities & Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, March 17th. F&G Annuities & Life’s dividend payout ratio (DPR) is presently 54.64%.

F&G Annuities & Life declared that its Board of Directors has initiated a stock buyback program on Monday, March 16th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Celina J. Wang Doka purchased 4,760 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $20.98 per share, for a total transaction of $99,864.80. Following the completion of the transaction, the director directly owned 32,071 shares of the company’s stock, valued at $672,849.58. This trade represents a 17.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher O. Blunt purchased 10,000 shares of F&G Annuities & Life stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $20.99 per share, for a total transaction of $209,900.00. Following the completion of 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. In the last 90 days, insiders bought 19,760 shares of company stock valued at $457,565. 2.10% of the stock is currently owned by company insiders.

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.