F&G Annuities & Life: Institutional Stake Shifts and Market Performance Update
Legal & General Group Plc reduced its stake in F&G Annuities & Life, Inc. by 12.6% in Q4, divesting 2,592 shares and holding 17,979 shares valued at $745,000. Other institutional investors made notable portfolio adjustments, including Federated Hermes Inc. significantly increasing its holdings by 476.6%, Wells Fargo & Company MN raising its position by 8.7%, and Norges Bank acquiring a new stake valued at approximately $14.3 million. JPMorgan Chase & Co. boosted its stake by 83.9%, acquiring an additional 38,576 shares. Hedge funds and institutional investors collectively maintain approximately 95.86% ownership in the company.
F&G Annuities & Life, trading on the NYSE under the ticker FG, has a market cap of $4.45 billion, with a P/E ratio of 7.24 and a beta of 1.83, reflecting moderate market volatility. The company’s current financial ratios include a quick ratio and a current ratio of 0.25, alongside a debt-to-equity ratio of 0.46. The stock has experienced a 52-week trading range of $31.26 to $50.75, trading recently around $35.12.
The company paid a quarterly dividend of $0.22 per share in March, corresponding to an annualized dividend yield of 2.51% and a payout ratio of 18.14%. Analyst opinions remain mixed yet cautious, with Stephens maintaining an "equal weight" rating and Barclays lowering its price target from $47 to $41 while also holding an "equal weight" stance.
Insider activity includes major shareholder National Financial I. Fidelity increasing its holdings by 4.25% through the acquisition of 4.5 million shares at an average cost of $33.60 per share, totaling over $151 million. Additionally, director Celina J. Wang Doka purchased 3,000 shares, raising her stake by 16.78%. Insider stock acquisitions total over 4.53 million shares worth approximately $152.3 million in the past 90 days, representing 1.80% of the company's total shares.
F&G Annuities & Life specializes in fixed annuity and life insurance products, focusing on retirement planning and wealth transfer. Founded in 1959 and headquartered in Des Moines, Iowa, it remains a significant player in the U.S. annuities and life insurance market.