On February 15, 2024, F&G Annuities & Life declared a regular quarterly dividend of $0.21 per share ($0.84 annualized), consistent with its prior dividend payment.
To be eligible for the dividend, shares must be acquired before the ex-dividend date of March 14, 2024. Shareholders of record as of March 15, 2024, will receive the payment on March 29, 2024.
At the current share price of $44.57, the stock’s dividend yield is 1.88%. A retrospective analysis of five years’ worth of data indicates an average dividend yield of 3.08%, with the lowest at 1.31% and the highest at 5.06%. The standard deviation of yields is 1.07 (n=52). Importantly, the current dividend yield is 1.11 standard deviations below the historical average.
Furthermore, the company’s dividend payout ratio is -1.14. An explanatory note about the payout ratio follows, with a focus on the health of dividend payments, particularly in relation to growth prospects.
The company boasts a 3-year dividend growth rate of 20.00%, signifying its commitment to increasing dividends over time.
Ownership Trends and Analyst Forecasts
F&G Annuities & Life counts 376 funds or institutions reporting positions in the company, indicating a slight decrease in the last quarter. The average portfolio weight of all funds dedicated to FG has increased to 0.28%, with a total of 15,751K shares owned by institutions, representing a 4.72% increase in the last three months.
Additionally, the put/call ratio of FG is 1.27, suggesting a bearish outlook.
Analyst price forecasts have indicated an average one-year price target for F&G Annuities & Life of 48.45. This represents an 8.71% increase from the latest reported closing price of 44.57.
The projected annual revenue for F&G Annuities & Life is expected to be 5,261MM, marking a significant 47.82% increase. Furthermore, the projected annual non-GAAP EPS is 4.41.
Institutional Holdings
Fidelity National Financial owns 106,443K shares, representing 84.82% ownership of the company, with no change in the last quarter. Meanwhile, Brave Warrior Advisors holds 6,217K shares, representing 4.95% ownership, reflecting a 7.61% decrease in its prior filing. On the other hand, VTSMX – Vanguard Total Stock Market Index Fund Investor Shares and IWM – iShares Russell 2000 ETF have also made adjustments to their portfolio allocation in FG.
Geode Capital Management has increased its portfolio allocation in FG by 50.45% over the last quarter, holding 379K shares representing 0.30% ownership of the company. Their proactive approach signifies a bullish sentiment regarding F&G Annuities & Life.
Company Background
Established in 2016, FGL Holdings focuses on assisting middle-income Americans in preparing for retirement and achieving financial security. It offers fixed annuities as well as life insurance products, with a commitment to protecting principal and delivering predictable income streams.
The company’s headquarters are located in George Town, Cayman Islands, reflecting its global reach and strategic positioning.
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This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
