F&G Annuities & Life, Inc. $FG Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in F&G Annuities & Life, Inc. (NYSE:FG) by 70.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,770 shares of the company’s stock after selling 21,242 shares during the quarter. PNC Financial Services Group Inc.’s holdings in F&G Annuities & Life were worth $222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Elevated Capital Advisors LLC bought a new position in shares of F&G Annuities & Life during the fourth quarter worth about $27,000. Hantz Financial Services Inc. lifted its position in F&G Annuities & Life by 29,066.7% in the 4th quarter. Hantz Financial Services Inc. now owns 875 shares of the company’s stock valued at $27,000 after purchasing an additional 872 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in F&G Annuities & Life by 36,166.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,088 shares of the company’s stock valued at $34,000 after purchasing an additional 1,085 shares during the period. Allworth Financial LP boosted its stake in F&G Annuities & Life by 276.0% during the 4th quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock valued at $36,000 after purchasing an additional 861 shares during the period. Finally, FIL Ltd acquired a new position in F&G Annuities & Life during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 95.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on FG shares. Wall Street Zen lowered shares of F&G Annuities & Life from a “buy” rating to a “hold” rating in a research note on Sunday, July 5th. Zacks Research upgraded F&G Annuities & Life to a “hold” rating in a research report on Thursday, May 7th. Raymond James Financial initiated coverage on F&G Annuities & Life in a report on Wednesday, May 6th. They issued a “market perform” rating for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Wednesday, June 24th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.00.

F&G Annuities & Life Price Performance

Shares of NYSE FG opened at $27.63 on Friday. The stock has a market cap of $3.66 billion, a P/E ratio of 9.43 and a beta of 1.20. The firm’s 50-day simple moving average is $28.58 and its 200 day simple moving average is $27.12. F&G Annuities & Life, Inc. has a fifty-two week low of $20.57 and a fifty-two week high of $35.86. The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.48.

F&G Annuities & Life (NYSE:FG) last announced 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). The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.49 billion. F&G Annuities & Life had a net margin of 6.89% and a return on equity of 10.28%. Equities analysts expect that F&G Annuities & Life, Inc. will post 3.66 EPS for the current year.

F&G Annuities & Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. F&G Annuities & Life’s dividend payout ratio (DPR) is 26.25%.

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.