Dimensional Fund Advisors LP Acquires 358,616 Shares of F&G Annuities & Life, Inc. $FG

Key Points

• Dimensional Fund Advisors increased its F&G Annuities & Life stake by 32%, acquiring 358,616 shares to hold 1.48 million shares worth approximately $37.5 million. Institutional investors collectively own 95.86% of the company.
• Wall Street sentiment remains cautious: analysts have an average “Hold” rating and a $30 target price, while Barclays recently lowered its target from $31 to $27.
• F&G reported quarterly EPS of $0.82, below the $0.90 consensus estimate, and revenue of $1.19 billion versus expectations of $1.46 billion. The company pays a quarterly dividend of $0.25 per share, representing a 3.5% annualized yield.

Dimensional Fund Advisors LP lifted its stake in F&G Annuities & Life, Inc. (NYSE:FG - Free Report) by 32.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,480,179 shares of the company's stock after acquiring an additional 358,616 shares during the period. Dimensional Fund Advisors LP owned approximately 1.11% of F&G Annuities & Life worth $37,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. UBS Group AG grew its stake in F&G Annuities & Life by 485.3% during the fourth quarter. UBS Group AG now owns 239,997 shares of the company's stock valued at $7,404,000 after acquiring an additional 198,993 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in F&G Annuities & Life in the 4th quarter worth approximately $1,211,000. Schwartz Investment Counsel Inc. boosted its holdings in F&G Annuities & Life by 38.3% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 133,284 shares of the company's stock valued at $4,112,000 after purchasing an additional 36,900 shares during the period. Pictet Asset Management Holding SA bought a new position in F&G Annuities & Life in the 4th quarter valued at $1,533,000. Finally, Vanguard Group Inc. boosted its holdings in F&G Annuities & Life by 85.4% in the 4th quarter. Vanguard Group Inc. now owns 3,807,765 shares of the company's stock valued at $117,470,000 after purchasing an additional 1,753,709 shares during the period. 95.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FG. Wall Street Zen downgraded F&G Annuities & Life from a "buy" rating to a "hold" rating in a research report on Sunday, July 5th. Zacks Research upgraded F&G Annuities & Life to a "hold" rating in a research report on Thursday, May 7th. Barclays reduced their target price on F&G Annuities & Life from $31.00 to $27.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of F&G Annuities & Life in a report on Wednesday, June 24th. Finally, Raymond James Financial assumed coverage on F&G Annuities & Life in a report on Wednesday, May 6th. They issued a "market perform" rating on the stock. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $30.00.

F&G Annuities & Life Price Performance

Shares of NYSE:FG opened at $28.95 on Tuesday. The company's fifty day moving average price is $28.48 and its 200-day moving average price is $27.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 7.60 and a beta of 1.20. 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 - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.08). F&G Annuities & Life had a net margin of 8.89% and a return on equity of 10.73%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.46 billion. On average, equities research analysts anticipate that F&G Annuities & Life, Inc. will post 3.66 earnings per share for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, June 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. F&G Annuities & Life's dividend payout ratio is 26.25%.

F&G Annuities & Life Profile

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.

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