F&G Annuities & Life, Inc. $FG Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its F&G Annuities & Life stake by 76.5% in the first quarter, selling 81,541 shares and retaining 25,065 shares worth approximately $635,000. Institutional investors and hedge funds own 95.86% of the company.
• F&G Annuities & Life reported quarterly earnings of $0.65 per share and revenue of $1.42 billion, both below analyst expectations. Analysts expect full-year earnings of $3.66 per share.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a 4.4% annualized yield. Analysts maintain a consensus “Hold” rating with a $30 target price.

Royal Bank of Canada lessened its position in shares of F&G Annuities & Life, Inc. (NYSE:FG - Free Report) by 76.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. lifted its holdings in shares of F&G Annuities & Life by 29,066.7% during the fourth quarter. Hantz Financial Services Inc. now owns 875 shares of the company's stock worth $27,000 after purchasing an additional 872 shares during the period. Quadrant Capital Group LLC boosted its position in F&G Annuities & Life by 36,166.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,088 shares of the company's stock valued at $34,000 after buying an additional 1,085 shares during the last quarter. Allworth Financial LP increased its holdings in F&G Annuities & Life by 276.0% in the 4th quarter. Allworth Financial LP now owns 1,173 shares of the company's stock worth $36,000 after buying an additional 861 shares during the period. FIL Ltd purchased a new position in F&G Annuities & Life during the 4th quarter worth approximately $37,000. Finally, Parallel Advisors LLC raised its position in F&G Annuities & Life by 11,090.9% during the 4th quarter. Parallel Advisors LLC now owns 1,231 shares of the company's stock worth $38,000 after buying an additional 1,220 shares during the last quarter. 95.86% of the stock is owned by institutional investors and hedge funds.

F&G Annuities & Life Trading Up 0.1%

F&G Annuities & Life stock opened at $22.60 on Monday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.48. F&G Annuities & Life, Inc. has a 12 month low of $20.57 and a 12 month high of $35.60. The stock's 50 day simple moving average is $28.15 and its two-hundred day simple moving average is $26.90. The firm has a market cap of $2.96 billion, a PE ratio of 7.71 and a beta of 1.20.

F&G Annuities & Life (NYSE:FG - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.13). F&G Annuities & Life had a net margin of 6.89% and a return on equity of 10.28%. The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.49 billion. Analysts anticipate that F&G Annuities & Life, Inc. will post 3.66 earnings per share for the current year.

F&G Annuities & Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.00 dividend on an annualized basis and a yield of 4.4%. F&G Annuities & Life's payout ratio is presently 34.13%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FG shares. Raymond James Financial initiated coverage on shares of F&G Annuities & Life in a report on Wednesday, May 6th. They issued a "market perform" rating on the stock. Wall Street Zen downgraded shares of F&G Annuities & Life from a "buy" rating to a "hold" rating in a research report on Sunday, July 5th. Weiss Ratings lowered shares of F&G Annuities & Life from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Finally, Zacks Research raised 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 presently has an average rating of "Hold" and a consensus target price of $30.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source