Ghisallo Capital Management LLC Invests $5.59 Million in F&G Annuities & Life, Inc. $FG

Key Points

• Ghisallo Capital Management LLC has purchased 155,000 shares of F&G Annuities & Life, Inc. for approximately $5.59 million, establishing a new position in the company.
• F&G Annuities & Life has recently seen analysts upgrade its rating, with Wall Street Zen raising it from "hold" to "buy", and Barclays increasing the price target from $37 to $40.
• The company reported a net income of $0.77 EPS for the last quarter, surpassing analysts' expectations of $0.64, with revenues reaching $2.74 billion.

Ghisallo Capital Management LLC acquired a new stake in shares of F&G Annuities & Life, Inc. (NYSE:FG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 155,000 shares of the company's stock, valued at approximately $5,588,000. Ghisallo Capital Management LLC owned 0.12% of F&G Annuities & Life at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC acquired a new position in F&G Annuities & Life during the 4th quarter worth $1,717,000. Fidelity National Financial Inc. lifted its holdings 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 valued at $3,999,479,000 after purchasing an additional 4,500,000 shares during the last quarter. Mutual Advisors LLC purchased a new stake in shares of F&G Annuities & Life during the first quarter valued at $631,000. American Century Companies Inc. raised its position in F&G Annuities & Life by 26.6% during the first quarter. American Century Companies Inc. now owns 296,101 shares of the company's stock valued at $10,674,000 after buying an additional 62,201 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in F&G Annuities & Life by 12.7% during the first 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 period. Institutional investors and hedge funds own 95.86% of the company's stock.

F&G Annuities & Life Trading Up 0.8%

Shares of FG stock traded up $0.28 on Thursday, reaching $35.27. 86,429 shares of the stock were exchanged, compared to its average volume of 223,133. The stock has a market cap of $4.75 billion, a PE ratio of 14.22 and a beta of 1.55. F&G Annuities & Life, Inc. has a one year low of $30.01 and a one year high of $50.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a 50 day moving average price of $32.82 and a 200 day moving average price of $34.64.

F&G Annuities & Life (NYSE:FG - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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 fiscal year.

F&G Annuities & Life Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FG. Zacks Research raised F&G Annuities & Life from a "strong sell" rating to a "hold" rating in a research note on Monday. Wall Street Zen raised F&G Annuities & Life from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Finally, Barclays raised their target price 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. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average price target of $44.33.

About F&G Annuities & Life

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.