Hsbc Holdings PLC Purchases Shares of 31,977 F&G Annuities & Life, Inc. $FG

Hsbc Holdings PLC purchased a new stake in F&G Annuities & Life, Inc. (NYSE:FG) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 31,977 shares of the company’s stock, valued at approximately $989,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its position in F&G Annuities & Life by 12,227.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,314 shares of the company’s stock valued at $411,000 after acquiring an additional 13,206 shares during the last quarter. Corient Private Wealth LLC grew its holdings in F&G Annuities & Life by 40.3% in the fourth quarter. Corient Private Wealth LLC now owns 9,028 shares of the company’s stock worth $279,000 after purchasing an additional 2,593 shares during the last quarter. SHP Wealth Management acquired a new position in shares of F&G Annuities & Life during the fourth quarter worth $66,000. Hahn Capital Management LLC acquired a new position in shares of F&G Annuities & Life during the fourth quarter worth $198,000. Finally, River Road Asset Management LLC purchased a new stake in shares of F&G Annuities & Life during the 4th quarter valued at $209,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Trading Up 3.8%

NYSE:FG opened at $30.79 on Tuesday. The company has a market capitalization of $4.08 billion, a P/E ratio of 8.08 and a beta of 1.23. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.47. F&G Annuities & Life, Inc. has a 12 month low of $20.57 and a 12 month high of $36.70. The firm has a fifty day simple moving average of $27.88 and a 200-day simple moving average of $27.07.

F&G Annuities & Life (NYSE:FG) last released its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.46 billion. F&G Annuities & Life had a net margin of 8.89% and a return on equity of 10.73%. On average, equities research analysts anticipate that F&G Annuities & Life, Inc. will post 3.66 earnings per share for the current year.

F&G Annuities & Life announced that its board has approved a share buyback program on Monday, March 16th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

F&G Annuities & Life Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, June 16th. F&G Annuities & Life’s payout ratio is presently 26.25%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FG. Wall Street Zen cut F&G Annuities & Life from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. Raymond James Financial began coverage on F&G Annuities & Life in a research note on Wednesday, May 6th. They issued a “market perform” rating for the company. Zacks Research raised F&G Annuities & Life to a “hold” rating in a report on Thursday, May 7th. Barclays dropped their price target on F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a report on Wednesday, June 24th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, F&G Annuities & Life presently has a consensus rating of “Hold” and an average target price of $30.00.

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.