Royal Bank of Canada Lowers Stock Holdings in F&G Annuities & Life, Inc. $FG

Royal Bank of Canada reduced its holdings in F&G Annuities & Life, Inc. (NYSE:FG) by 76.5% during the 1st quarter, Holdings Channel reports. The firm owned 25,065 shares of the company’s stock after selling 81,541 shares during the quarter. Royal Bank of Canada’s holdings in F&G Annuities & Life were worth $635,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of F&G Annuities & Life by 85.4% in the fourth quarter. Vanguard Group Inc. now owns 3,807,765 shares of the company’s stock valued at $117,470,000 after buying an additional 1,753,709 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of F&G Annuities & Life by 32.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,480,179 shares of the company’s stock valued at $37,475,000 after buying an additional 358,616 shares in the last quarter. State Street Corp grew its stake in F&G Annuities & Life by 93.6% in the 4th quarter. State Street Corp now owns 847,443 shares of the company’s stock valued at $26,144,000 after acquiring an additional 409,743 shares during the period. Geode Capital Management LLC grew its stake in F&G Annuities & Life by 44.2% in the 4th quarter. Geode Capital Management LLC now owns 736,885 shares of the company’s stock valued at $22,735,000 after acquiring an additional 225,817 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in F&G Annuities & Life by 870.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock valued at $20,085,000 after acquiring an additional 576,102 shares during the period. 95.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Raymond James Financial began coverage on shares of F&G Annuities & Life in a research report on Wednesday, May 6th. They set a “market perform” rating for the company. Wall Street Zen lowered shares of F&G Annuities & Life from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. Weiss Ratings cut shares of F&G Annuities & Life from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research upgraded shares of F&G Annuities & Life to a “hold” rating in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, F&G Annuities & Life has a consensus rating of “Hold” and a consensus target price of $30.00.

F&G Annuities & Life Stock Performance

NYSE FG opened at $22.60 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s 50 day simple moving average is $28.15 and its 200-day simple moving average is $26.90. The company has a market cap of $2.96 billion, a PE ratio of 7.71 and a beta of 1.20. F&G Annuities & Life, Inc. has a 1-year low of $20.57 and a 1-year high of $35.60.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.13). F&G Annuities & Life had a return on equity of 10.28% and a net margin of 6.89%.The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.49 billion. As a group, equities research analysts anticipate that F&G Annuities & Life, Inc. will post 3.66 EPS for the current fiscal year.

F&G Annuities & Life Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 16th. F&G Annuities & Life’s payout ratio is 34.13%.

F&G Annuities & Life Company Profile

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.