Principal Financial Group Inc. Grows Position in F&G Annuities & Life, Inc. (NYSE:FG)

Principal Financial Group Inc. raised its position in F&G Annuities & Life, Inc. (NYSE:FG) by 23.1% in the third quarter, Holdings Channel reports. The fund owned 120,336 shares of the company’s stock after buying an additional 22,550 shares during the period. Principal Financial Group Inc.’s holdings in F&G Annuities & Life were worth $5,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of F&G Annuities & Life by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,047 shares of the company’s stock valued at $18,117,000 after purchasing an additional 3,453 shares in the last quarter. Barclays PLC raised its stake in F&G Annuities & Life by 527.8% in the third quarter. Barclays PLC now owns 42,524 shares of the company’s stock valued at $1,902,000 after buying an additional 35,750 shares in the last quarter. Zacks Investment Management acquired a new stake in F&G Annuities & Life in the third quarter valued at $409,000. State Street Corp lifted its holdings in F&G Annuities & Life by 1.2% during the 3rd quarter. State Street Corp now owns 413,210 shares of the company’s stock worth $18,479,000 after buying an additional 4,910 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of F&G Annuities & Life during the 3rd quarter worth about $521,000. Institutional investors and hedge funds own 95.86% of the company’s stock.

F&G Annuities & Life Stock Down 0.3 %

FG opened at $41.44 on Thursday. F&G Annuities & Life, Inc. has a one year low of $34.90 and a one year high of $50.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market capitalization of $5.23 billion, a P/E ratio of -690.55 and a beta of 1.47. The business’s 50-day simple moving average is $44.34 and its 200-day simple moving average is $42.41.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.18 billion. F&G Annuities & Life had a return on equity of 13.05% and a net margin of 0.22%. During the same quarter in the previous year, the company posted $0.96 earnings per share. Analysts anticipate that F&G Annuities & Life, Inc. will post 4.43 EPS for the current year.

F&G Annuities & Life Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 2.12%. This is a boost from F&G Annuities & Life’s previous quarterly dividend of $0.21. F&G Annuities & Life’s dividend payout ratio is currently -1,466.67%.

Analyst Upgrades and Downgrades

FG has been the subject of a number of research analyst reports. Piper Sandler upped their price target on F&G Annuities & Life from $40.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Barclays boosted their price objective on shares of F&G Annuities & Life from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th.

F&G Annuities & Life Profile

F&G Annuities & Life, Inc provides fixed annuities and life insurance products in the United States. The company portfolio includes fixed indexed annuities, multi-year guarantee annuities, and pension risk transfer solution, as well as indexed universal life insurance, institutional funding agreements, and index-linked annuities.