F&G Annuities & Life: Q3 Investment Trends and Corporate Developments
In the third quarter, Y Intercept Hong Kong Ltd notably reduced its investment in F&G Annuities & Life, Inc. (NYSE:FG), according to a recent Securities & Exchange Commission filing. The institutional investor offloaded 112,802 shares, retaining 17,292 shares valued at $541,000 by the period's end. This strategic move aligns with broader industry trends in regulatory compliance requirements and investment strategies.
Institutional Investor Activity
Other significant investors have also rebalanced their stakes in F&G Annuities & Life. CSM Advisors LLC initiated a major investment in the second quarter, valued at approximately $3,863,000. Meanwhile, American Century Companies Inc. increased its holdings by 23.4%, owning 365,343 shares worth around $11,684,000. Jupiter Asset Management Ltd. and Wedge Capital Management LLP NC established new positions valued at $1,916,000 and $1,434,000, respectively, while Parkwood LLC boosted its stake by 32.0%, acquiring 205,944 shares valued at $6,586,000. Hedge funds and other institutional investors currently own 95.86% of the company, reflecting compliance with risk management best practices.
Corporate Developments
In a key corporate move, Christopher O. Blunt, CEO of F&G Annuities & Life, purchased 5,000 shares at $29.56 each, totaling $147,800. This acquisition increases his ownership stake by 0.45%, reinforcing confidence in company leadership amidst evolving regulatory challenges.
Market Performance and Financial Highlights
F&G Annuities & Life shares opened at $27.75 in the latest session, with a debt-to-equity ratio of 0.45. The stock has fluctuated between $26.45 and $47.76 over the past year, with 50- and 200-day moving averages at $30.72 and $31.63, respectively. The company commands a market capitalization of $3.74 billion, price-to-earnings ratio of 8.14, and a beta of 1.46, indicating its stable market position amid varying underwriting and claims operations.
The latest earnings report, dated November 6, revealed an earnings per share of $1.22, surpassing analyst expectations by $0.20, alongside revenue totaling $737 million. Analysts project an EPS of 5.54 for the current fiscal year, affirming the company's robust financial outlook.
Dividends and Stock Analysis
F&G Annuities & Life announced a quarterly dividend of $0.25 per share, up from a previous dividend of $0.22, reflecting a dividend payout ratio of 29.33%. The company specializes in providing fixed indexed annuities and life insurance products, addressing needs such as retirement income, wealth transfer, and regulatory compliance in capital preservation strategies.
Analyst evaluations reflect mixed ratings for F&G Annuities & Life stock. Piper Sandler set a target price of $33.00, while Barclays suggested a $31.00 price objective. Weiss Ratings maintained a "hold" stance, and MarketBeat reported a consensus "hold" recommendation with an average target price of $37.00, reflecting diverse perspectives on regulatory and financial performance.
F&G Annuities & Life remains the primary life insurance and annuity subsidiary of F&G Financial Group, Inc., based in Des Moines, Iowa. The company tailors a diverse product range for individual and institutional clients, promoting solutions that manage longevity risk and offer consistent returns through fixed-rate and indexed annuities and various life insurance policies, crucial to navigating industry and regulatory compliance landscapes.