F&G Annuities & Life: Stock Performance Analysis and Insights
In December, F&G Annuities & Life, Inc. experienced a significant rise in short interest. The number of shares sold short increased to 1,542,256 by month's end, representing a 70.5% surge from the 904,498 shares recorded mid-month. Currently, approximately 1.2% of the company's shares are sold short, with a short-interest ratio of 1.9 days based on an average daily trading volume of 832,696 shares.
On January 2nd, CEO Christopher O. Blunt acquired 5,000 shares of F&G Annuities & Life stock at an average price of $29.56 per share, totaling an investment of $147,800. This purchase marginally increased his holdings to 1,117,396 shares, now valued at around $33,030,225.76. This transaction is duly documented with the Securities & Exchange Commission, emphasizing regulatory compliance.
Institutional investors and hedge funds have shown active interest in trading F&G Annuities & Life shares. Notable transactions include CSM Advisors LLC's new position valued at approximately $3,863,000. American Century Companies Inc. increased their holdings by 23.4%, now totaling 365,343 shares worth $11,684,000. Furthermore, Jupiter Asset Management Ltd. invested about $1,916,000, while Voya Investment Management LLC increased its stake by 5.6%. Wedge Capital Management L L P NC also acquired a new position valued at $1,434,000, collectively contributing to the 95.86% institutional ownership of the company's stock.
Analyst Evaluations and Market Performance
Analysts have updated their evaluations of F&G Annuities & Life, with Zacks Research adjusting the stock's rating from "strong-buy" to "hold." Piper Sandler and Barclays have set price targets at $33.00 and $31.00, respectively. The consensus rating remains "hold," with an average price target of $37.00, according to MarketBeat.com, highlighting the stock's risk management strategy.
On the trading front, F&G Annuities & Life shares rose to $27.75 on a trading volume of 585,246 shares, which is below the average volume of 1,067,994. With a market capitalization of $3.74 billion, the company's PE ratio stands at 8.14 with a beta of 1.46. Over the past 12 months, the stock fluctuated between $27.11 and $47.76, maintaining a debt-to-equity ratio of 0.45, underpinning its financial stability and risk management approach.
Financial Performance and Product Offerings
F&G Annuities & Life recently reported earnings per share of $1.22 for the quarter, surpassing consensus estimates. The company generated $737.00 million in revenue during this period, showcasing robust financial performance. Additionally, the firm announced a quarterly dividend increase to $0.25 per share, up from the previous $0.22, resulting in a yield of 3.6%, reinforcing its payout capacity.
As a subsidiary of F&G Financial Group, Inc., headquartered in Des Moines, Iowa, F&G Annuities & Life specializes in retirement income solutions. Their offerings include fixed indexed and fixed-rate annuities, alongside life insurance products such as term, universal, and variable universal life policies. This diverse product line ensures comprehensive coverage for policyholders and adaptive strategies for market trends and regulatory requirements.