F&G Annuities & Life, Inc. (NYSE:FG) Announces Dividend Increase – $0.22 Per Share

F&G Annuities & Life, Inc. (NYSE:FG) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Tuesday, December 17th will be given a dividend of 0.22 per share on Tuesday, December 31st. This represents a $0.88 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from F&G Annuities & Life’s previous quarterly dividend of $0.21.

F&G Annuities & Life has a payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Analysts expect F&G Annuities & Life to earn $5.31 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 15.8%.

F&G Annuities & Life Price Performance

FG traded up $0.95 on Friday, reaching $46.17. 48,621 shares of the company’s stock were exchanged, compared to its average volume of 88,428. F&G Annuities & Life has a twelve month low of $34.90 and a twelve month high of $48.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.24 and a quick ratio of 0.24. The stock has a market cap of $5.82 billion, a PE ratio of 18.58 and a beta of 1.32. The stock’s fifty day moving average price is $42.52 and its 200-day moving average price is $40.98.

F&G Annuities & Life (NYSE:FG) last issued its earnings results on Monday, August 5th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.12. F&G Annuities & Life had a net margin of 6.25% and a return on equity of 13.94%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Sell-side analysts expect that F&G Annuities & Life will post 4.32 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FG shares. Barclays lifted their price objective on F&G Annuities & Life from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday. Piper Sandler lifted their target price on shares of F&G Annuities & Life from $40.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd.

F&G Annuities & Life Company Profile

F&G Annuities & Life, Inc provides fixed annuities and life insurance products in the United States. The company portfolio includes fixed indexed annuities, multi-year guarantee annuities, and pension risk transfer solution, as well as indexed universal life insurance, institutional funding agreements, and index-linked annuities.