Fintel reports that on December 22, 2023, Piper Sandler initiated coverage of F&G Annuities & Life (NYSE:FG) with a Neutral recommendation.
Analyst Price Forecast Suggests 18.25% Downside
As of December 16, 2023, the average one-year price target for F&G Annuities & Life is 36.72. The forecasts range from a low of 36.36 to a high of $37.80. The average price target represents a decrease of 18.25% from its latest reported closing price of 44.92.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for F&G Annuities & Life is 4,537MM, an increase of 27.48%. The projected annual non-GAAP EPS is 3.80.
F&G Annuities & Life Declares $0.21 Dividend
On November 7, 2023 the company declared a regular quarterly dividend of $0.21 per share ($0.84 annualized). Shareholders of record as of December 15, 2023 will receive the payment on December 29, 2023. Previously, the company paid $0.20 per share.
At the current share price of $44.92 / share, the stock's dividend yield is 1.87%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.21%, the lowest has been 1.31%, and the highest has been 5.06%. The standard deviation of yields is 1.04 (n=47).
The current dividend yield is 1.28 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -1.18. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 20.00%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 382 funds or institutions reporting positions in F&G Annuities & Life. This is an increase of 21 owner(s) or 5.82% in the last quarter. Average portfolio weight of all funds dedicated to FG is 0.25%, an increase of 6.65%. Total shares owned by institutions decreased in the last three months by 0.87% to 15,403K shares. 
The put/call ratio of FG is 0.88, indicating a bullish outlook.
What are Other Shareholders Doing?
Fidelity National Financial holds 106,443K shares representing 84.82% ownership of the company. No change in the last quarter.
Brave Warrior Advisors holds 6,690K shares representing 5.33% ownership of the company. In it's prior filing, the firm reported owning 6,794K shares, representing a decrease of 1.56%. The firm increased its portfolio allocation in FG by 5.34% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 544K shares representing 0.43% ownership of the company. No change in the last quarter.
IWM - iShares Russell 2000 ETF holds 443K shares representing 0.35% ownership of the company. In it's prior filing, the firm reported owning 422K shares, representing an increase of 4.79%. The firm increased its portfolio allocation in FG by 24.42% over the last quarter.
Kennedy Capital Management holds 364K shares representing 0.29% ownership of the company. In it's prior filing, the firm reported owning 365K shares, representing a decrease of 0.51%. The firm increased its portfolio allocation in FG by 17.80% over the last quarter.
FGL Holdings Background Information
(This description is provided by the company.)
FGL Holdings is an insurance company, which engages in aiding middle-income Americans prepare for retirement and attain financial security. It offers fixed annuities which serves as a retirement and savings tool for which customers rely on principal protection and predictable income streams; and life insurance which delivers complementary product that allows customer to build from savings and provide a payment to designated beneficiaries upon the policyholder's death. The company was founded on February 26, 2016 and is headquartered in George Town, Cayman Islands.
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