Y Intercept Hong Kong Ltd has dramatically increased its holdings in F&G Annuities & Life, Inc. by an impressive 1,634.1% during the second quarter of 2023. This information comes from the company’s recent filing with the Securities & Exchange Commission. As a result of this acquisition, Y Intercept now owns 130,094 shares of F&G, having added 122,592 shares in the period. This investment is valued at approximately $4,160,000, representing about 0.10% of the company’s total shares.
A range of other institutional investors have also adjusted their positions in F&G Annuities & Life recently. For instance, Cannon Global Investment Management LLC purchased a new stake worth around $270,000 in the first quarter. Similarly, the Teacher Retirement System of Texas increased its holdings by 4.4%, owning 84,265 shares valued at $3,038,000 after acquiring an additional 3,588 shares. Additionally, Mutual Advisors LLC and Principal Financial Group Inc. made significant investments, with Principal raising its stake by 1.1% to own 126,955 shares.
The current landscape indicates that approximately 95.86% of F&G Annuities & Life’s stock is held by hedge funds and institutional investors.
Market Performance and Dividend Announcement
On October 11, 2023, shares of F&G Annuities & Life opened at $29.25, reflecting a 1.2% decrease. The company has a market capitalization of $3.94 billion and a price-to-earnings ratio of 11.79. Its stock has seen fluctuations, with a fifty-two week low of $28.70 and a high of $50.75. The company maintains a debt-to-equity ratio of 0.49 and both its quick and current ratios stand at 0.26.
F&G Annuities & Life also recently declared a quarterly dividend of $0.22, paid on September 30, 2023. Shareholders on record as of September 16 received this dividend, which equates to an annualized total of $0.88, yielding approximately 3.0%. The company’s current dividend payout ratio is 35.48%.
Insider Transactions and Analyst Insights
In related news, on September 18, 2023, Leena Punjabi, the executive vice president of F&G Annuities & Life, sold 3,000 shares at an average price of $33.81, totaling $101,430. Following this transaction, Punjabi retains 64,064 shares, valued at approximately $2,166,003.84. Corporate insiders hold around 2.10% of the company’s stock.
Wall Street analysts have been evaluating F&G Annuities & Life’s prospects. Recently, Piper Sandler set a price target of $33.00, while Zacks Research upgraded the stock from “strong sell” to “hold.” Additionally, Wall Street Zen and Barclays adjusted their ratings and targets, reflecting a mix of confidence and caution in the stock’s future performance. According to data from MarketBeat, F&G Annuities & Life currently holds a consensus rating of “Hold” with an average target price of $38.33.
F&G Annuities & Life, founded in 1959 and headquartered in Des Moines, Iowa, specializes in fixed annuity and life insurance products. The company focuses on life insurance, annuities, retirement planning, and wealth transfer solutions.
