F&G Annuities & Life, Inc. (NYSE:FG) Shares Acquired by Moors & Cabot Inc.

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

Several other large investors have also recently made changes to their positions in FG. Castlekeep Investment Advisors LLC bought a new position in shares of F&G Annuities & Life in the 4th quarter worth $72,007,000. Norges Bank bought a new position in shares of F&G Annuities & Life in the 4th quarter worth $14,321,000. Dimensional Fund Advisors LP raised its position in shares of F&G Annuities & Life by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 413,202 shares of the company's stock worth $17,123,000 after acquiring an additional 42,081 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of F&G Annuities & Life by 83.9% in the 4th quarter. JPMorgan Chase & Co. now owns 84,528 shares of the company's stock worth $3,503,000 after acquiring an additional 38,576 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of F&G Annuities & Life by 311.5% in the 4th quarter. Millennium Management LLC now owns 50,443 shares of the company's stock worth $2,090,000 after acquiring an additional 38,185 shares in the last quarter. 95.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FG has been the topic of several research analyst reports. Barclays dropped their target price on F&G Annuities & Life from $40.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Wall Street Zen upgraded F&G Annuities & Life from a "sell" rating to a "hold" rating in a research note on Tuesday.

F&G Annuities & Life Stock Performance

FG traded up $0.09 on Tuesday, reaching $31.81. 2,461 shares of the stock were exchanged, compared to its average volume of 229,988. The company's 50-day moving average price is $31.79 and its 200 day moving average price is $36.12. F&G Annuities & Life, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $50.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $4.29 billion, a PE ratio of 8.43 and a beta of 1.55.

F&G Annuities & Life (NYSE:FG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $1.19 by ($0.47). F&G Annuities & Life had a return on equity of 12.89% and a net margin of 9.90%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.46 billion. As a group, sell-side analysts forecast that F&G Annuities & Life, Inc. will post 5.54 EPS for the current fiscal year.

F&G Annuities & Life Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, June 16th. F&G Annuities & Life's payout ratio is 23.34%.

Insider Activity

In related news, CEO Christopher O. Blunt acquired 15,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was acquired at an average price of $30.78 per share, with a total value of $461,700.00. Following the acquisition, the chief executive officer directly owned 889,964 shares in the company, valued at $27,393,091.92. This represents a 1.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders bought 45,000 shares of company stock valued at $1,399,900. Insiders own 2.10% of the company's stock.

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.