F&G Annuities & Life Expands Share Repurchase Authorization By $25M
Portfolio Pulse from Benzinga Newsdesk
F&G Annuities & Life, Inc. (NYSE:FG) has increased its share repurchase authorization by $25 million to a total of $50 million. Since the inception of the program in March 2023, the company has repurchased 868,930 shares for $18.3 million, leaving approximately $31.7 million remaining in the authorization. The repurchases may continue through November 2026.
November 07, 2023 | 9:55 pm
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F&G Annuities & Life's increased share repurchase authorization could potentially boost its stock price in the short term as it signals the company's confidence in its own stock.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock. By buying back its own shares, the company is effectively investing in itself, which can be seen as a positive sign by investors. This could potentially lead to an increase in the stock's price in the short term.
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