Empyrean Capital Partners LP Takes $3.68 Million Position in F&G Annuities & Life, Inc. $FG

Key Points

• Empyrean Capital Partners LP invested approximately $3.68 million in F&G Annuities & Life, acquiring 102,000 shares during the first quarter.
• F&G Annuities & Life recently reported a quarterly earnings per share (EPS) of $0.77, exceeding the consensus estimate of $0.64, supported by revenue of $2.74 billion.
• The company announced a quarterly dividend of $0.22 per share, with a dividend yield of 2.5% and a payout ratio of 35.48%.

Empyrean Capital Partners LP bought a new position in F&G Annuities & Life, Inc. (NYSE:FG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 102,000 shares of the company's stock, valued at approximately $3,677,000. Empyrean Capital Partners LP owned 0.08% of F&G Annuities & Life as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FG. Fidelity National Financial Inc. boosted its stake in F&G Annuities & Life by 4.2% in the 1st quarter. Fidelity National Financial Inc. now owns 110,942,551 shares of the company's stock worth $3,999,479,000 after purchasing an additional 4,500,000 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in shares of F&G Annuities & Life in the 4th quarter valued at about $72,007,000. Seven Grand Managers LLC purchased a new stake in shares of F&G Annuities & Life in the 1st quarter valued at about $9,012,000. Nuveen LLC purchased a new stake in shares of F&G Annuities & Life in the 1st quarter valued at about $7,016,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of F&G Annuities & Life in the 1st quarter valued at about $6,309,000. Institutional investors own 95.86% of the company's stock.

F&G Annuities & Life Price Performance

Shares of NYSE FG traded down $0.84 during trading hours on Friday, reaching $34.47. 163,355 shares of the stock traded hands, compared to its average volume of 149,489. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.49. The company's 50-day simple moving average is $32.93 and its two-hundred day simple moving average is $34.48. The company has a market capitalization of $4.64 billion, a P/E ratio of 13.90 and a beta of 1.55. F&G Annuities & Life, Inc. has a 52-week low of $30.01 and a 52-week 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 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $1.35 billion. F&G Annuities & Life had a return on equity of 11.51% and a net margin of 6.45%. Equities research analysts forecast that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 16th. F&G Annuities & Life's payout ratio is 35.48%.

Analyst Upgrades and Downgrades

FG has been the topic of several recent analyst reports. Zacks Research raised F&G Annuities & Life from a "strong sell" rating to a "hold" rating in a report on Monday, September 1st. Barclays raised their price target on F&G Annuities & Life from $37.00 to $40.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised F&G Annuities & Life from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, F&G Annuities & Life presently has a consensus rating of "Hold" and an average target price 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.