Martingale Asset Management L P Makes New Investment in F&G Annuities & Life, Inc. $FG

Key Points

• Martingale Asset Management L P has acquired a new stake in F&G Annuities & Life, purchasing 10,805 shares valued at approximately $390,000.
• F&G Annuities & Life announced a quarterly dividend of $0.22, representing an annualized yield of 2.6%, with the payment set for September 30th.
• Wall Street analysts have upgraded F&G Annuities & Life's stock to a "buy" rating with a target price increase from $37.00 to $40.00.

Martingale Asset Management L P acquired a new position in F&G Annuities & Life, Inc. (NYSE:FG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,805 shares of the company's stock, valued at approximately $390,000.

Several other institutional investors have also recently made changes to their positions in FG. Fidelity National Financial Inc. raised its stake in shares of F&G Annuities & Life by 4.2% in 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 period. Castlekeep Investment Advisors LLC bought a new position in shares of F&G Annuities & Life in the fourth quarter worth about $72,007,000. Seven Grand Managers LLC bought a new position in shares of F&G Annuities & Life in the first quarter worth about $9,012,000. Nuveen LLC bought a new position in shares of F&G Annuities & Life in the first quarter worth about $7,016,000. Finally, Vanguard Group Inc. raised its stake in F&G Annuities & Life by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 2,029,913 shares of the company's stock valued at $73,178,000 after purchasing an additional 165,489 shares during the period. Institutional investors own 95.86% of the company's stock.

F&G Annuities & Life Price Performance

FG traded up $0.16 on Friday, hitting $34.53. 97,991 shares of the company's stock traded hands, compared to its average volume of 174,207. The company's 50 day simple moving average is $32.66 and its 200-day simple moving average is $34.73. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 13.93 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 current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.49.

F&G Annuities & Life (NYSE:FG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. F&G Annuities & Life had a return on equity of 11.51% and a net margin of 6.45%.The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $1.35 billion. As a group, research analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. F&G Annuities & Life's payout ratio is presently 35.48%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen raised F&G Annuities & Life from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Barclays lifted their target price on F&G Annuities & Life from $37.00 to $40.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $44.33.

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.