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

F&G Annuities & Life, Inc. (NYSE:FG - Get Free Report) saw a large increase in short interest in April. As of April 15th, there was short interest totaling 2,562,800 shares, an increase of 20.2% from the March 31st total of 2,132,863 shares. Currently, 1.9% of the company's stock are sold short. Based on an average trading volume of 674,592 shares, the short-interest ratio is presently 3.8 days.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Zacks Research downgraded 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 downgraded shares of F&G Annuities & Life from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Weiss Ratings restated a "hold (c)" rating on shares of F&G Annuities & Life in a research report on Friday, March 27th. Finally, Barclays reduced their price target on shares of F&G Annuities & Life from $31.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $30.00.

Insider Buying and Selling at F&G Annuities & Life

In related news, Director Celina J. Wang Doka acquired 4,760 shares of the firm's stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $20.98 per share, with a total value of $99,864.80. Following the acquisition, the director directly owned 32,071 shares in the company, valued at approximately $672,849.58. The trade was a 17.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher O. Blunt acquired 10,000 shares of the firm's stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $20.99 per share, with a total value of $209,900.00. Following the completion of the acquisition, the chief executive officer owned 1,107,128 shares in the company, valued at $23,238,616.72. This represents a 0.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.10% of the stock is owned by company insiders.

Institutional Trading of F&G Annuities & Life

Several hedge funds have recently bought and sold shares of the company. Confluence Investment Management LLC bought a new stake in shares of F&G Annuities & Life during the 4th quarter worth about $3,742,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of F&G Annuities & Life during the 4th quarter worth about $1,211,000. DAVENPORT & Co LLC bought a new stake in shares of F&G Annuities & Life during the 4th quarter worth about $1,923,000. Denali Advisors LLC raised its position in shares of F&G Annuities & Life by 28.7% during the 3rd quarter. Denali Advisors LLC now owns 223,161 shares of the company's stock worth $6,978,000 after buying an additional 49,728 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of F&G Annuities & Life during the 3rd quarter worth about $772,000. 95.86% of the stock is currently owned by institutional investors.

F&G Annuities & Life Trading Down 0.7%

F&G Annuities & Life stock opened at $28.42 on Thursday. The firm's 50-day moving average is $24.70 and its 200-day moving average is $28.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.26 and a current ratio of 0.26. F&G Annuities & Life has a 1 year low of $20.57 and a 1 year high of $36.70. The company has a market cap of $3.85 billion, a P/E ratio of 15.53 and a beta of 1.28.

F&G Annuities & Life (NYSE:FG - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.43). The firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $1.55 billion. F&G Annuities & Life had a net margin of 4.62% and a return on equity of 10.48%.

F&G Annuities & Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a $0.25 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $1.00 annualized dividend and a yield of 3.5%. F&G Annuities & Life's dividend payout ratio (DPR) is currently 54.64%.

F&G Annuities & Life announced that its Board of Directors has authorized a stock buyback plan on Monday, March 16th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.

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