F&G Annuities & Life (NYSE:FG) Reaches New 1-Year Low – Here’s Why

F&G Annuities & Life, Inc. (NYSE:FG) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $27.68 and last traded at $27.6950, with a volume of 205161 shares traded. The stock had previously closed at $28.51.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FG shares. Barclays set a $31.00 target price on shares of F&G Annuities & Life in a report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Monday, December 29th. Piper Sandler set a $33.00 price objective on F&G Annuities & Life in a report on Tuesday, October 7th. Wall Street Zen downgraded F&G Annuities & Life from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research cut F&G Annuities & Life from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.00.

F&G Annuities & Life Stock Down 3.4%

The company has a market cap of $3.71 billion, a price-to-earnings ratio of 8.07 and a beta of 1.46. The business has a fifty day moving average of $31.74 and a two-hundred day moving average of $32.00. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.45.

F&G Annuities & Life (NYSE:FG) last posted its quarterly earnings data on Tuesday, October 3rd. The company reported $1.45 EPS for the quarter. The business had revenue of $496.00 million during the quarter. F&G Annuities & Life had a return on equity of 11.41% and a net margin of 8.40%. As a group, equities analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 EPS for the current fiscal year.

F&G Annuities & Life Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 17th. This is a boost from F&G Annuities & Life’s previous quarterly dividend of $0.22. F&G Annuities & Life’s payout ratio is presently 29.33%.

Insiders Place Their Bets

In related news, CEO Christopher O. Blunt acquired 5,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were acquired at an average cost of $29.56 per share, with a total value of $147,800.00. Following the completion of the acquisition, the chief executive officer directly owned 1,117,396 shares in the company, valued at approximately $33,030,225.76. This trade represents a 0.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its stake in F&G Annuities & Life by 474.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 902 shares of the company’s stock valued at $28,000 after buying an additional 745 shares in the last quarter. GAMMA Investing LLC raised its holdings 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. EverSource Wealth Advisors LLC raised its holdings 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. Board of the Pension Protection Fund purchased a new position in shares of F&G Annuities & Life in the fourth quarter valued at approximately $52,000. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of F&G Annuities & Life by 18.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,174 shares of the company’s stock worth $70,000 after acquiring an additional 337 shares during the last quarter. Institutional investors and hedge funds own 95.86% of the company’s stock.

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.