Charles Schwab Investment Management Inc. Has $8.19 Million Stock Position in F&G Annuities & Life, Inc. $FG

Key Points

• Charles Schwab Investment Management Inc. increased its stake in F&G Annuities & Life by 12.7% in the first quarter, owning approximately 0.17% of the company with a position valued at $8.19 million.
• F&G Annuities & Life reported earnings of $0.77 per share for the last quarter, significantly exceeding analysts' estimates of $0.64.
• The company announced a quarterly dividend of $0.22, resulting in an annualized dividend of $0.88 with a 2.6% yield.

Charles Schwab Investment Management Inc. raised its position in shares of F&G Annuities & Life, Inc. (NYSE:FG - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,072 shares of the company's stock after purchasing an additional 25,570 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.17% of F&G Annuities & Life worth $8,186,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fidelity National Financial Inc. grew its stake in shares of F&G Annuities & Life by 4.2% during the first quarter. Fidelity National Financial Inc. now owns 110,942,551 shares of the company's stock worth $3,999,479,000 after buying an additional 4,500,000 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of F&G Annuities & Life during the fourth quarter worth $72,007,000. Vanguard Group Inc. grew its stake in shares of F&G Annuities & Life by 8.9% during the first quarter. Vanguard Group Inc. now owns 2,029,913 shares of the company's stock worth $73,178,000 after buying an additional 165,489 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of F&G Annuities & Life by 11.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 413,202 shares of the company's stock worth $17,123,000 after buying an additional 42,081 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of F&G Annuities & Life by 311.5% during the fourth quarter. Millennium Management LLC now owns 50,443 shares of the company's stock worth $2,090,000 after buying an additional 38,185 shares during the last quarter. 95.86% of the stock is currently owned by institutional investors and hedge funds.

F&G Annuities & Life Stock Performance

Shares of F&G Annuities & Life stock opened at $34.4730 on Tuesday. 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 twelve month low of $30.01 and a twelve month high of $50.75. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 13.90 and a beta of 1.55. The company's fifty day moving average is $32.41 and its 200 day moving average is $35.06.

F&G Annuities & Life (NYSE:FG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.77 earnings per share for the quarter, topping 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. Sell-side analysts forecast that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid 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 2.6%. F&G Annuities & Life's payout ratio is currently 35.48%.

Analysts Set New Price Targets

A number of analysts have weighed in on FG shares. Wall Street Zen raised shares of F&G Annuities & Life from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Barclays boosted 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 research note on Thursday, August 7th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $44.33.

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.

Want to see what other hedge funds are holding FG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for F&G Annuities & Life, Inc. (NYSE:FG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.