Bank of New York Mellon Corp Acquires 20,559 Shares of F&G Annuities & Life, Inc. (NYSE:FG)

Bank of New York Mellon Corp increased its stake in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 256,267 shares of the company’s stock after buying an additional 20,559 shares during the period. Bank of New York Mellon Corp’s holdings in F&G Annuities & Life were worth $10,620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of F&G Annuities & Life by 23.1% during the third quarter. Principal Financial Group Inc. now owns 120,336 shares of the company’s stock valued at $5,381,000 after purchasing an additional 22,550 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of F&G Annuities & Life by 63.5% in the third quarter. JPMorgan Chase & Co. now owns 45,952 shares of the company’s stock worth $2,055,000 after purchasing an additional 17,845 shares in the last quarter. Barclays PLC lifted its position in shares of F&G Annuities & Life by 527.8% in the third quarter. Barclays PLC now owns 42,524 shares of the company’s stock valued at $1,902,000 after acquiring an additional 35,750 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in F&G Annuities & Life during the third quarter valued at $521,000. Finally, Geode Capital Management LLC boosted its position in shares of F&G Annuities & Life by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 405,047 shares of the company’s stock valued at $18,117,000 after acquiring an additional 3,453 shares during the last quarter. Hedge funds and other institutional investors own 95.86% of the company’s stock.

Analyst Ratings Changes

FG has been the subject of a number of recent analyst reports. Barclays lifted their price target on shares of F&G Annuities & Life from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Stephens reaffirmed an “equal weight” rating and issued a $47.00 price target on shares of F&G Annuities & Life in a report on Monday, February 24th.

F&G Annuities & Life Stock Performance

Shares of FG stock opened at $40.20 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.46. The stock has a market cap of $5.10 billion, a PE ratio of 8.29 and a beta of 1.72. The business has a 50-day simple moving average of $43.14 and a 200-day simple moving average of $43.43. F&G Annuities & Life, Inc. has a 52-week low of $34.90 and a 52-week high of $50.75.

F&G Annuities & Life (NYSE:FG) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.13). The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.34 billion. F&G Annuities & Life had a net margin of 11.12% and a return on equity of 14.14%. On average, equities analysts expect that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, March 17th. F&G Annuities & Life’s dividend payout ratio is presently 18.14%.

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.