American Century Companies Inc. Increases Stock Position in F&G Annuities & Life, Inc. $FG

Key Points

• American Century Companies Inc. has increased its stake in F&G Annuities & Life, Inc. by 26.6%, now holding approximately 0.22% of the company, valued at about $10.67 million.
• F&G Annuities & Life reported a net revenue of $2.74 billion for the last quarter, significantly surpassing analyst expectations of $1.35 billion.
• The company plans to pay a quarterly dividend of $0.22 per share on September 30, reflecting an annualized yield of 2.5% with a dividend payout ratio of 35.48%.

American Century Companies Inc. increased its stake in F&G Annuities & Life, Inc. (NYSE:FG - Free Report) by 26.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 296,101 shares of the company's stock after acquiring an additional 62,201 shares during the period. American Century Companies Inc. owned about 0.22% of F&G Annuities & Life worth $10,674,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Seven Grand Managers LLC purchased a new position in F&G Annuities & Life in the 1st quarter worth approximately $9,012,000. Nuveen LLC purchased a new position in shares of F&G Annuities & Life in the first quarter worth $7,016,000. Burkehill Global Management LP bought a new stake in F&G Annuities & Life during the 1st quarter valued at $3,605,000. Charles Schwab Investment Management Inc. raised its holdings in F&G Annuities & Life by 12.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 227,072 shares of the company's stock valued at $8,186,000 after buying an additional 25,570 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in F&G Annuities & Life by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 2,029,913 shares of the company's stock valued at $73,178,000 after buying an additional 165,489 shares during the period. 95.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of F&G Annuities & Life from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Barclays increased their target price on shares of F&G Annuities & Life from $37.00 to $40.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, F&G Annuities & Life currently has a consensus rating of "Hold" and a consensus target price of $44.33.

F&G Annuities & Life Trading Up 0.5%

Shares of NYSE:FG traded up $0.16 on Monday, hitting $34.53. The company had a trading volume of 97,991 shares, compared to its average volume of 174,207. The firm's 50-day simple moving average is $32.71 and its two-hundred day simple moving average is $34.64. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 13.93 and a beta of 1.55. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.49. F&G Annuities & Life, Inc. has a 1 year low of $30.01 and a 1 year high of $50.75.

F&G Annuities & Life (NYSE:FG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. F&G Annuities & Life had a net margin of 6.45% and a return on equity of 11.51%. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $1.35 billion. Equities analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. F&G Annuities & Life's dividend payout ratio is currently 35.48%.

F&G Annuities & Life Company Profile

F&G Annuities & Life, Inc engages in the provision of fixed annuity and life insurance products. It specializes in life insurance, annuities, retirement planning and wealth transfer. The company was founded in 1959 and is headquartered in Des Moines, IA.