F&G Annuities & Life, Inc. (NYSE:FG) Announces $0.25 Quarterly Dividend

F&G Annuities & Life, Inc. (NYSE:FG) announced a quarterly dividend on Thursday, August 6th. Shareholders of record on Wednesday, September 16th will be given a dividend of 0.25 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 16th.

F&G Annuities & Life has a dividend payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect F&G Annuities & Life to earn $4.31 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 23.2%.

F&G Annuities & Life Stock Performance

Shares of FG traded down $0.56 during trading hours on Thursday, reaching $29.09. 626,157 shares of the company traded hands, compared to its average volume of 752,005. The stock has a market capitalization of $3.85 billion, a P/E ratio of 7.63 and a beta of 1.20. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.47. F&G Annuities & Life has a 12-month low of $20.57 and a 12-month high of $36.70. The business has a fifty day moving average price of $28.56 and a 200-day moving average price of $27.10.

F&G Annuities & Life (NYSE:FG) last issued its earnings results on Wednesday, August 5th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.13). F&G Annuities & Life had a return on equity of 10.73% and a net margin of 8.89%.The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Equities analysts anticipate that F&G Annuities & Life will post 3.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in F&G Annuities & Life by 85.4% during the fourth quarter. Vanguard Group Inc. now owns 3,807,765 shares of the company’s stock worth $117,470,000 after buying an additional 1,753,709 shares in the last quarter. Ameriprise Financial Inc. boosted its position in F&G Annuities & Life by 870.1% during the third quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock worth $20,085,000 after purchasing an additional 576,102 shares in the last quarter. Norges Bank acquired a new stake in F&G Annuities & Life in the fourth quarter valued at approximately $14,568,000. State Street Corp increased its position in shares of F&G Annuities & Life by 93.6% in the fourth quarter. State Street Corp now owns 847,443 shares of the company’s stock valued at $26,144,000 after buying an additional 409,743 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of F&G Annuities & Life by 445.3% during the 4th quarter. AQR Capital Management LLC now owns 465,295 shares of the company’s stock valued at $14,354,000 after buying an additional 379,970 shares in the last quarter. 95.86% of the stock is owned by institutional investors and hedge funds.

About F&G Annuities & Life

F&G Annuities & Life is the principal life insurance and annuity subsidiary of F&G Financial Group, Inc (NYSE: FG), a publicly traded financial services holding company headquartered in Des Moines, Iowa. The company focuses on designing and issuing retirement income solutions that address longevity risk, capital preservation, and wealth transfer for individual and institutional clients.

Its product suite includes fixed indexed annuities, which offer the potential for market-linked growth with downside protection; fixed-rate annuities, delivering guaranteed interest over a defined term; and a range of life insurance policies such as term, universal, and variable universal life.