F&G Annuities & Life, Inc. (NYSE:FG) Sees Large Growth in Short Interest

F&G Annuities & Life, Inc. (NYSE:FG) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 385,100 shares, a growth of 28.5% from the February 28th total of 299,700 shares. Based on an average trading volume of 148,100 shares, the days-to-cover ratio is presently 2.6 days. Approximately 0.3% of the company’s shares are short sold.

F&G Annuities & Life Trading Up 2.2 %

FG opened at $35.99 on Tuesday. F&G Annuities & Life has a fifty-two week low of $34.08 and a fifty-two week high of $50.75. The firm has a market capitalization of $4.56 billion, a PE ratio of 7.42 and a beta of 1.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.25 and a quick ratio of 0.25. The company’s 50-day moving average is $42.14 and its 200 day moving average is $43.06.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings data on Thursday, February 20th. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.13). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.34 billion. F&G Annuities & Life had a return on equity of 14.14% and a net margin of 11.12%. As a group, research analysts predict that F&G Annuities & Life will post 5.54 earnings per share for the current fiscal year.

F&G Annuities & Life Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Monday, March 17th. F&G Annuities & Life’s dividend payout ratio is 18.14%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays raised their target price on F&G Annuities & Life from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Stephens restated an “equal weight” rating and set a $47.00 price objective on shares of F&G Annuities & Life in a report on Monday, February 24th.

Insider Buying and Selling at F&G Annuities & Life

In related news, EVP Michael L. Gravelle bought 7,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average price of $36.00 per share, for a total transaction of $252,000.00. Following the transaction, the executive vice president now directly owns 33,540 shares of the company’s stock, valued at approximately $1,207,440. The trade was a 26.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Celina J. Wang Doka purchased 3,000 shares of F&G Annuities & Life stock in a transaction on Tuesday, March 25th. The stock was bought at an average price of $35.24 per share, with a total value of $105,720.00. Following the completion of the acquisition, the director now directly owns 20,875 shares of the company’s stock, valued at approximately $735,635. This trade represents a 16.78 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 4,530,000 shares of company stock valued at $152,273,820. 1.80% of the stock is currently owned by insiders.

Institutional Trading of F&G Annuities & Life

Several institutional investors have recently made changes to their positions in FG. Charles Schwab Investment Management Inc. grew its position in F&G Annuities & Life by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 201,582 shares of the company’s stock worth $9,015,000 after purchasing an additional 10,584 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of F&G Annuities & Life in the third quarter valued at approximately $381,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of F&G Annuities & Life during the third quarter valued at approximately $6,369,000. Point72 Asset Management L.P. bought a new stake in F&G Annuities & Life during the third quarter worth $521,000. Finally, State Street Corp lifted its holdings in F&G Annuities & Life by 1.2% during the third quarter. State Street Corp now owns 413,210 shares of the company’s stock worth $18,479,000 after acquiring an additional 4,910 shares during the period. Institutional investors own 95.86% of the company’s stock.

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.