F&G Annuities & Life, Inc. $FG Position Lessened by Fidelity National Financial Inc.

Fidelity National Financial Inc. trimmed its holdings in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,662,347 shares of the company’s stock after selling 16,280,204 shares during the quarter. F&G Annuities & Life accounts for about 88.3% of Fidelity National Financial Inc.’s investment portfolio, making the stock its biggest position. Fidelity National Financial Inc. owned approximately 70.32% of F&G Annuities & Life worth $2,920,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in F&G Annuities & Life by 85.4% during the 4th quarter. Vanguard Group Inc. now owns 3,807,765 shares of the company’s stock valued at $117,470,000 after acquiring an additional 1,753,709 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of F&G Annuities & Life by 870.1% in the 3rd 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 shares of F&G Annuities & Life in the 4th quarter valued at about $14,568,000. First Eagle Investment Management LLC bought a new position in shares of F&G Annuities & Life during the fourth quarter worth about $11,312,000. Finally, Cooke & Bieler LP bought a new position in shares of F&G Annuities & Life during the fourth quarter worth about $9,596,000. 95.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on FG shares. Raymond James Financial started coverage on F&G Annuities & Life in a report on Wednesday, May 6th. They issued a “market perform” rating for the company. Wall Street Zen lowered F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Zacks Research raised F&G Annuities & Life to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of F&G Annuities & Life in a report on Friday, March 27th. Finally, Barclays lowered their price objective on F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.00.

F&G Annuities & Life Trading Up 1.8%

F&G Annuities & Life stock opened at $28.73 on Thursday. The firm’s 50-day moving average is $27.24 and its 200-day moving average is $27.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.29 and a current ratio of 0.29. F&G Annuities & Life, Inc. has a 1 year low of $20.57 and a 1 year high of $36.70. The company has a market cap of $3.81 billion, a P/E ratio of 7.54 and a beta of 1.22.

F&G Annuities & Life (NYSE:FG) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). F&G Annuities & Life had a return on equity of 10.73% and a net margin of 8.89%.The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $1.46 billion. On average, equities analysts expect that F&G Annuities & Life, Inc. will post 3.78 earnings per share for the current year.

F&G Annuities & Life Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 16th. F&G Annuities & Life’s dividend payout ratio (DPR) is presently 26.25%.

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

Insider Transactions at F&G Annuities & Life

In related news, Director Celina J. Wang Doka acquired 4,760 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $20.98 per share, for a total transaction of $99,864.80. Following the purchase, the director directly owned 32,071 shares in the company, valued at $672,849.58. This represents a 17.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher O. Blunt acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $20.99 per share, with a total value of $209,900.00. Following the completion of the purchase, 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 ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 2.10% of the company’s stock.

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.