PNC Financial Services Group Inc. Acquires 25,334 Shares of F&G Annuities & Life, Inc. $FG

PNC Financial Services Group Inc. grew its holdings in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 541.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,012 shares of the company’s stock after acquiring an additional 25,334 shares during the period. PNC Financial Services Group Inc.’s holdings in F&G Annuities & Life were worth $926,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FG. Elevated Capital Advisors LLC bought a new position in shares of F&G Annuities & Life during the fourth quarter valued at $27,000. GAMMA Investing LLC raised its stake in shares of F&G Annuities & Life by 432.6% during the fourth quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after acquiring an additional 757 shares during the last quarter. Allworth Financial LP raised its stake in shares of F&G Annuities & Life by 276.0% during the fourth quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock valued at $36,000 after acquiring an additional 861 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of F&G Annuities & Life by 83.8% during the third quarter. EverSource Wealth Advisors LLC now owns 1,211 shares of the company’s stock valued at $38,000 after acquiring an additional 552 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of F&G Annuities & Life during the fourth quarter valued at $39,000. Institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Trading Up 0.5%

FG opened at $27.73 on Friday. F&G Annuities & Life, Inc. has a twelve month low of $20.57 and a twelve month high of $36.70. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $26.73 and a 200-day moving average of $28.15. The stock has a market cap of $3.67 billion, a PE ratio of 7.28 and a beta of 1.28.

F&G Annuities & Life (NYSE:FG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.08). F&G Annuities & Life had a return on equity of 10.73% and a net margin of 8.89%.The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $1.46 billion. On average, sell-side analysts predict that F&G Annuities & Life, Inc. will post 3.78 EPS for the current year.

F&G Annuities & Life Announces Dividend

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

F&G Annuities & Life announced that its board has approved a share repurchase program on Monday, March 16th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on FG. Wall Street Zen downgraded shares of F&G Annuities & Life from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Raymond James Financial began coverage on shares of F&G Annuities & Life in a research note on Wednesday, May 6th. They set a “market perform” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Friday, March 27th. Zacks Research raised shares of F&G Annuities & Life to a “hold” rating in a research note on Thursday, May 7th. Finally, Barclays decreased their price objective on shares of F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.00.

Insiders Place Their Bets

In related news, Director Celina J. Wang Doka purchased 4,760 shares of F&G Annuities & Life stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $20.98 per share, for a total transaction of $99,864.80. Following the completion of the acquisition, the director owned 32,071 shares of the company’s stock, valued at $672,849.58. This trade represents a 17.43% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher O. Blunt purchased 10,000 shares of F&G Annuities & Life stock in a transaction on Friday, March 13th. The stock was bought at an average price of $20.99 per share, with a total value of $209,900.00. Following the completion of the acquisition, the chief executive officer directly owned 1,107,128 shares of the company’s stock, valued at approximately $23,238,616.72. This trade represents a 0.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.10% of the company’s stock.

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.