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

PNC Financial Services Group Inc. lessened its position in F&G Annuities & Life, Inc. (NYSE:FG) by 70.8% during the first quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. UBS Group AG lifted its position in shares of F&G Annuities & Life by 485.3% during the 4th quarter. UBS Group AG now owns 239,997 shares of the company’s stock valued at $7,404,000 after acquiring an additional 198,993 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of F&G Annuities & Life in the 4th quarter worth $1,211,000. Schwartz Investment Counsel Inc. grew its holdings in shares of F&G Annuities & Life by 38.3% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 133,284 shares of the company’s stock worth $4,112,000 after acquiring an additional 36,900 shares during the last quarter. Pictet Asset Management Holding SA acquired a new stake in shares of F&G Annuities & Life during the fourth quarter worth $1,533,000. Finally, Vanguard Group Inc. lifted its holdings in shares of F&G Annuities & Life by 85.4% during the fourth quarter. Vanguard Group Inc. now owns 3,807,765 shares of the company’s stock valued at $117,470,000 after purchasing an additional 1,753,709 shares during the last quarter. Institutional investors and hedge funds own 95.86% of the company’s stock.

F&G Annuities & Life Price Performance

Shares of NYSE:FG opened at $27.63 on Friday. The company’s fifty day moving average is $28.58 and its two-hundred day moving average is $27.12. The company has a market cap of $3.66 billion, a P/E ratio of 9.43 and a beta of 1.20. F&G Annuities & Life, Inc. has a 12-month low of $20.57 and a 12-month 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 issued its 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 business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.49 billion. Equities analysts expect that F&G Annuities & Life, Inc. will post 3.66 earnings per share for the current fiscal year.

F&G Annuities & Life Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Wednesday, June 24th. 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 shares of F&G Annuities & Life to a “hold” rating in a report on Thursday, May 7th. Finally, Raymond James Financial began coverage on shares of F&G Annuities & Life in a research report on Wednesday, May 6th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.00.

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.