Victory Capital Management Inc. Cuts Stock Holdings in F&G Annuities & Life, Inc. (NYSE:FG)

Victory Capital Management Inc. reduced its position in shares of F&G Annuities & Life, Inc. (NYSE:FG) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,992 shares of the company’s stock after selling 322 shares during the period. Victory Capital Management Inc.’s holdings in F&G Annuities & Life were worth $608,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FG. Charles Schwab Investment Management Inc. raised its holdings in F&G Annuities & Life by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 187,590 shares of the company’s stock worth $8,629,000 after purchasing an additional 2,695 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in F&G Annuities & Life in the fourth quarter valued at about $367,000. Norges Bank purchased a new position in F&G Annuities & Life in the fourth quarter valued at about $8,203,000. Dynamic Technology Lab Private Ltd purchased a new position in F&G Annuities & Life in the fourth quarter valued at about $263,000. Finally, Belpointe Asset Management LLC purchased a new position in F&G Annuities & Life in the fourth quarter valued at about $217,000. 95.86% of the stock is owned by hedge funds and other institutional investors.

F&G Annuities & Life Stock Down 1.1 %

Shares of NYSE FG opened at $42.38 on Monday. F&G Annuities & Life, Inc. has a 1 year low of $26.12 and a 1 year high of $48.71. The firm’s 50 day moving average price is $41.69 and its 200 day moving average price is $39.96. The firm has a market cap of $5.35 billion, a P/E ratio of 21.62 and a beta of 1.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.24 and a current ratio of 0.24.

F&G Annuities & Life (NYSE:FG) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. F&G Annuities & Life had a net margin of 6.25% and a return on equity of 13.94%. As a group, sell-side analysts anticipate that F&G Annuities & Life, Inc. will post 4.32 earnings per share for the current year.

F&G Annuities & Life Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 16th. This represents a $0.84 annualized dividend and a dividend yield of 1.98%. F&G Annuities & Life’s payout ratio is 42.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FG. Piper Sandler dropped their target price on shares of F&G Annuities & Life from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Barclays assumed coverage on shares of F&G Annuities & Life in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $45.00 price objective for the company.

About F&G Annuities & Life

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.