F&G Annuities & Life, Inc. $FG Shares Bought by MAI Capital Management

MAI Capital Management lifted its holdings in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 176.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,427 shares of the company’s stock after buying an additional 34,721 shares during the quarter. MAI Capital Management’s holdings in F&G Annuities & Life were worth $1,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fidelity National Financial Inc. increased its holdings in F&G Annuities & Life by 4.2% in the 1st quarter. Fidelity National Financial Inc. now owns 110,942,551 shares of the company’s stock worth $3,999,479,000 after acquiring an additional 4,500,000 shares in the last quarter. Vanguard Group Inc. grew its position in shares of F&G Annuities & Life by 8.9% in the first quarter. Vanguard Group Inc. now owns 2,029,913 shares of the company’s stock valued at $73,178,000 after purchasing an additional 165,489 shares during the period. Geode Capital Management LLC increased its stake in shares of F&G Annuities & Life by 12.6% during the second quarter. Geode Capital Management LLC now owns 509,212 shares of the company’s stock worth $16,286,000 after purchasing an additional 57,032 shares in the last quarter. American Century Companies Inc. increased its stake in shares of F&G Annuities & Life by 26.6% during the first quarter. American Century Companies Inc. now owns 296,101 shares of the company’s stock worth $10,674,000 after purchasing an additional 62,201 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of F&G Annuities & Life by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 263,451 shares of the company’s stock worth $8,425,000 after purchasing an additional 7,422 shares during the last quarter. Hedge funds and other institutional investors own 95.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler set a $33.00 price objective on F&G Annuities & Life in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of F&G Annuities & Life in a research note on Monday, November 17th. Wall Street Zen raised F&G Annuities & Life from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Barclays lowered their target price on shares of F&G Annuities & Life from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of F&G Annuities & Life from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.33.

Insider Activity

In other news, CEO Christopher O. Blunt bought 5,000 shares of F&G Annuities & Life stock in a transaction on Wednesday, November 19th. The shares were bought at an average cost of $29.88 per share, with a total value of $149,400.00. Following the completion of the purchase, the chief executive officer directly owned 1,146,419 shares of the company’s stock, valued at approximately $34,254,999.72. This trade represents a 0.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Leena Punjabi sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $33.81, for a total transaction of $101,430.00. Following the completion of the transaction, the executive vice president owned 64,064 shares in the company, valued at $2,166,003.84. The trade was a 4.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is currently owned by company insiders.

F&G Annuities & Life Price Performance

NYSE:FG opened at $31.25 on Monday. F&G Annuities & Life, Inc. has a one year low of $28.70 and a one year high of $50.75. The stock has a market cap of $4.21 billion, a PE ratio of 9.16 and a beta of 1.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a 50 day moving average price of $30.88 and a 200 day moving average price of $31.99.

F&G Annuities & Life (NYSE:FG) last issued its earnings results on Tuesday, October 3rd. The company reported $1.45 earnings per share (EPS) for the quarter. F&G Annuities & Life had a return on equity of 11.41% and a net margin of 8.40%.The company had revenue of $496.00 million during the quarter. Equities research analysts expect that F&G Annuities & Life, Inc. will post 5.54 EPS for the current fiscal year.

F&G Annuities & Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a $0.25 dividend. This is an increase from F&G Annuities & Life’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 17th. F&G Annuities & Life’s payout ratio is currently 25.81%.

About F&G Annuities & Life

F&G Annuities & Life, Inc engages in the provision of fixed annuity and life insurance products. It specializes in life insurance, annuities, retirement planning and wealth transfer. The company was founded in 1959 and is headquartered in Des Moines, IA.