F&G Annuities & Life, Inc. (NYSE:FG) Stock Position Raised by Fidelity National Financial Inc.

Key Points

• Fidelity National Financial Inc. has increased its stake in F&G Annuities & Life by 4.2%, making it the largest holding in its portfolio, valued at approximately $4 billion.
• F&G Annuities & Life reported a missed earnings estimate with EPS of $0.72, compared to the consensus estimate of $1.19, despite generating revenue of $2.18 billion.
• The company announced a quarterly dividend of $0.22, with a current dividend yield of 2.8%, reflecting its 23.34% payout ratio.

Fidelity National Financial Inc. grew its position in F&G Annuities & Life, Inc. (NYSE:FG - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,942,551 shares of the company's stock after acquiring an additional 4,500,000 shares during the quarter. F&G Annuities & Life accounts for about 89.3% of Fidelity National Financial Inc.'s holdings, making the stock its largest position. Fidelity National Financial Inc. owned 82.29% of F&G Annuities & Life worth $3,999,479,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of FG. Castlekeep Investment Advisors LLC acquired a new position in F&G Annuities & Life in the fourth quarter valued at about $72,007,000. Norges Bank acquired a new position in F&G Annuities & Life during the fourth quarter worth approximately $14,321,000. American Century Companies Inc. increased its position in F&G Annuities & Life by 31.5% during the fourth quarter. American Century Companies Inc. now owns 233,900 shares of the company's stock worth $9,693,000 after buying an additional 56,073 shares during the last quarter. Dimensional Fund Advisors LP increased its position in 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, JPMorgan Chase & Co. increased its position in F&G Annuities & Life by 83.9% during the fourth quarter. JPMorgan Chase & Co. now owns 84,528 shares of the company's stock worth $3,503,000 after buying an additional 38,576 shares during the last quarter. Institutional investors own 95.86% of the company's stock.

Insider Transactions at F&G Annuities & Life

In other news, CEO Christopher O. Blunt bought 5,000 shares of the company's stock in a transaction dated Friday, May 16th. The stock was bought at an average cost of $32.11 per share, for a total transaction of $160,550.00. Following the completion of the acquisition, the chief executive officer owned 894,964 shares in the company, valued at approximately $28,737,294.04. This trade represents a 0.56% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have bought 45,000 shares of company stock worth $1,399,900 in the last ninety days. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wall Street Zen raised F&G Annuities & Life from a "sell" rating to a "hold" rating in a research report on Tuesday. Barclays reduced their price target on F&G Annuities & Life from $40.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th.

F&G Annuities & Life Stock Up 1.1%

FG stock traded up $0.36 during mid-day trading on Tuesday, reaching $32.08. 60,895 shares of the company traded hands, compared to its average volume of 230,382. F&G Annuities & Life, Inc. has a fifty-two week low of $30.01 and a fifty-two week high of $50.75. The firm's 50 day moving average price is $31.79 and its 200 day moving average price is $36.12. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.50. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 8.50 and a beta of 1.55.

F&G Annuities & Life (NYSE:FG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $1.19 by ($0.47). F&G Annuities & Life had a return on equity of 12.89% and a net margin of 9.90%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $1.46 billion. As a group, equities research analysts predict that F&G Annuities & Life, Inc. will post 5.54 EPS for the current fiscal year.

F&G Annuities & Life Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, June 16th. F&G Annuities & Life's dividend payout ratio is presently 23.34%.

F&G Annuities & Life 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.