Moors & Cabot Inc. Raises Holdings in F&G Annuities & Life, Inc. (NYSE:FG)

Key Points

• Moors & Cabot Inc. significantly increased its stock holdings in F&G Annuities & Life, Inc. by 564.3%, reaching a value of approximately $1.24 million.
• CEO Christopher O. Blunt purchased 5,000 shares at an average cost of $32.11 per share, increasing his total ownership to 894,964 shares valued at nearly $28.74 million.
• Analysts have downgraded F&G Annuities & Life from a "hold" to a "sell" rating, with Barclays lowering its target price from $40.00 to $37.00.

Moors & Cabot Inc. lifted its stake in shares of F&G Annuities & Life, Inc. (NYSE:FG - Free Report) by 564.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,290 shares of the company's stock after purchasing an additional 29,128 shares during the quarter. Moors & Cabot Inc.'s holdings in F&G Annuities & Life were worth $1,236,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FG. Federated Hermes Inc. boosted its stake in F&G Annuities & Life by 476.6% in the fourth quarter. Federated Hermes Inc. now owns 888 shares of the company's stock valued at $37,000 after buying an additional 734 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in F&G Annuities & Life in the fourth quarter valued at about $114,000. KLP Kapitalforvaltning AS acquired a new stake in F&G Annuities & Life in the fourth quarter valued at about $141,000. Ameriflex Group Inc. acquired a new stake in F&G Annuities & Life in the fourth quarter valued at about $144,000. Finally, Iron Horse Wealth Management LLC boosted its stake in F&G Annuities & Life by 9.5% in the first quarter. Iron Horse Wealth Management LLC now owns 4,679 shares of the company's stock valued at $169,000 after buying an additional 404 shares in the last quarter. 95.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at F&G Annuities & Life

In other F&G Annuities & Life news, CEO Christopher O. Blunt acquired 15,000 shares of F&G Annuities & Life stock in a transaction on Thursday, May 15th. The stock was purchased at an average price of $30.78 per share, for a total transaction of $461,700.00. Following the purchase, the chief executive officer directly owned 889,964 shares of the company's stock, valued at $27,393,091.92. This trade represents a 1.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders acquired 45,000 shares of company stock valued at $1,399,900. 2.10% of the stock is owned by corporate insiders.

F&G Annuities & Life Stock Up 5.9%

Shares of NYSE:FG traded up $1.95 during trading on Thursday, reaching $35.10. 34,707 shares of the stock were exchanged, compared to its average volume of 229,732. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.27 and a quick ratio of 0.27. F&G Annuities & Life, Inc. has a 1-year low of $30.01 and a 1-year high of $50.75. The stock has a fifty day moving average of $31.84 and a two-hundred day moving average of $36.08. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 9.27 and a beta of 1.55.

F&G Annuities & Life (NYSE:FG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. F&G Annuities & Life had a return on equity of 12.89% and a net margin of 9.90%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $1.35 billion. Research analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. F&G Annuities & Life's dividend payout ratio (DPR) is presently 23.34%.

Analyst Upgrades and Downgrades

FG has been the topic of a number of recent research reports. Barclays lifted their price target on F&G Annuities & Life from $37.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday. Wall Street Zen raised F&G Annuities & Life from a "sell" rating to a "hold" rating in a research note on Tuesday.

F&G Annuities & Life Company Profile

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.