Vanguard Group Inc. Purchases 165,489 Shares of F&G Annuities & Life, Inc. $FG

Key Points

• Vanguard Group Inc. increased its ownership in F&G Annuities & Life by 8.9%, holding 2,029,913 shares valued at approximately $73.18 million as of the end of the latest quarter.
• F&G Annuities & Life reported earnings of $0.77 per share, exceeding expectations of $0.64, with revenues of $2.74 billion significantly above the forecast of $1.35 billion.
• The company announced a quarterly dividend of $0.22, payable on September 30th, translating to an annualized yield of 2.5%.

Vanguard Group Inc. lifted its stake in shares of F&G Annuities & Life, Inc. (NYSE:FG - Free Report) by 8.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,029,913 shares of the company's stock after purchasing an additional 165,489 shares during the quarter. Vanguard Group Inc. owned about 1.51% of F&G Annuities & Life worth $73,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Castlekeep Investment Advisors LLC bought a new stake in shares of F&G Annuities & Life during the fourth quarter valued at about $1,717,000. Fidelity National Financial Inc. raised its stake 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 in the last quarter. Mutual Advisors LLC bought a new stake in F&G Annuities & Life in the first quarter worth about $631,000. GAMMA Investing LLC raised its position in F&G Annuities & Life by 4,236.3% in the first quarter. GAMMA Investing LLC now owns 12,185 shares of the company's stock worth $439,000 after acquiring an additional 11,904 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in F&G Annuities & Life by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 413,202 shares of the company's stock worth $17,123,000 after acquiring an additional 42,081 shares in the last quarter. 95.86% of the stock is currently owned by institutional investors.

F&G Annuities & Life Stock Down 1.7%

NYSE:FG traded down $0.60 on Thursday, hitting $34.10. 38,664 shares of the company's stock traded hands, compared to its average volume of 225,341. 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, Inc. has a 1 year low of $30.01 and a 1 year high of $50.75. The firm has a 50-day moving average price of $32.54 and a 200-day moving average price of $35.06. The company has a market cap of $4.59 billion, a PE ratio of 13.76 and a beta of 1.55.

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, beating the consensus estimate 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 company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $1.35 billion. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend 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

Several brokerages have commented on FG. Barclays boosted their price target on shares of F&G Annuities & Life from $37.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of F&G Annuities & Life from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently 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.