Hsbc Holdings PLC Makes New $989,000 Investment in F&G Annuities & Life, Inc. $FG

Hsbc Holdings PLC acquired a new stake in shares of F&G Annuities & Life, Inc. (NYSE:FG) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 31,977 shares of the company’s stock, valued at approximately $989,000.

Other large investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. increased its stake in shares of F&G Annuities & Life by 12,227.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,314 shares of the company’s stock worth $411,000 after acquiring an additional 13,206 shares during the period. Corient Private Wealth LLC lifted its position in F&G Annuities & Life by 40.3% during the fourth quarter. Corient Private Wealth LLC now owns 9,028 shares of the company’s stock valued at $279,000 after purchasing an additional 2,593 shares during the period. SHP Wealth Management acquired a new position in F&G Annuities & Life during the fourth quarter valued at $66,000. Hahn Capital Management LLC acquired a new position in F&G Annuities & Life during the fourth quarter valued at $198,000. Finally, River Road Asset Management LLC purchased a new stake in F&G Annuities & Life in the fourth quarter valued at $209,000. 95.86% of the stock is owned by hedge funds and other institutional investors.

F&G Annuities & Life Stock Up 3.8%

FG stock opened at $30.79 on Tuesday. The firm has a market cap of $4.08 billion, a PE ratio of 8.08 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s fifty day moving average is $27.88 and its 200 day moving average is $27.07. F&G Annuities & Life, Inc. has a one year low of $20.57 and a one year high of $36.70.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). F&G Annuities & Life had a return on equity of 10.73% and a net margin of 8.89%.The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.46 billion. On average, research analysts forecast that F&G Annuities & Life, Inc. will post 3.66 EPS for the current year.

F&G Annuities & Life declared that its Board of Directors has initiated a share repurchase program on Monday, March 16th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

F&G Annuities & Life Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. F&G Annuities & Life’s dividend payout ratio is presently 26.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Wednesday, June 24th. Barclays decreased their price objective on F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Zacks Research upgraded F&G Annuities & Life to a “hold” rating in a research note on Thursday, May 7th. Raymond James Financial began coverage on F&G Annuities & Life in a report on Wednesday, May 6th. They set a “market perform” rating on the stock. Finally, Wall Street Zen cut F&G Annuities & Life from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, F&G Annuities & Life presently has a consensus rating of “Hold” and a consensus price target of $30.00.

About F&G Annuities & Life

F&G Annuities & Life is the principal life insurance and annuity subsidiary of F&G Financial Group, Inc (NYSE: FG), a publicly traded financial services holding company headquartered in Des Moines, Iowa. The company focuses on designing and issuing retirement income solutions that address longevity risk, capital preservation, and wealth transfer for individual and institutional clients.

Its product suite includes fixed indexed annuities, which offer the potential for market-linked growth with downside protection; fixed-rate annuities, delivering guaranteed interest over a defined term; and a range of life insurance policies such as term, universal, and variable universal life.