F&G Annuities & Life (NYSE:FG) Reaches New 52-Week Low – Here’s Why

Shares of F&G Annuities & Life, Inc. (NYSE:FG) hit a new 52-week low during trading on Tuesday . The stock traded as low as $27.00 and last traded at $27.35, with a volume of 19225 shares. The stock had previously closed at $27.54.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Zacks Research lowered F&G Annuities & Life from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Barclays set a $31.00 price objective on F&G Annuities & Life in a report on Thursday, January 8th. Piper Sandler set a $33.00 target price on F&G Annuities & Life in a research report on Tuesday, October 7th. Wall Street Zen cut shares of F&G Annuities & Life from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a report on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $37.00.

F&G Annuities & Life Stock Down 3.2%

The firm has a market cap of $3.59 billion, a PE ratio of 7.82 and a beta of 1.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average price of $31.43 and a 200-day moving average price of $31.83.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings results on Thursday, November 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.20. F&G Annuities & Life had a net margin of 8.40% and a return on equity of 11.41%. The company had revenue of $737.00 million during the quarter, compared to the consensus estimate of $1.40 billion. Research analysts forecast that F&G Annuities & Life, Inc. will post 5.54 EPS for the current fiscal year.

F&G Annuities & Life Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, December 17th. This is an increase from F&G Annuities & Life’s previous quarterly dividend of $0.22. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. F&G Annuities & Life’s payout ratio is presently 29.33%.

Insiders Place Their Bets

In other F&G Annuities & Life news, CEO Christopher O. Blunt purchased 5,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were bought at an average cost of $29.56 per share, for a total transaction of $147,800.00. Following the completion of the purchase, the chief executive officer directly owned 1,117,396 shares in the company, valued at approximately $33,030,225.76. This represents a 0.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FG. Voya Investment Management LLC increased its stake in F&G Annuities & Life by 5.6% in the first quarter. Voya Investment Management LLC now owns 6,309 shares of the company’s stock valued at $227,000 after purchasing an additional 334 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of F&G Annuities & Life by 18.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,174 shares of the company’s stock valued at $70,000 after buying an additional 337 shares during the last quarter. Stoneridge Investment Partners LLC grew its position in shares of F&G Annuities & Life by 6.7% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 6,869 shares of the company’s stock valued at $215,000 after buying an additional 429 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in F&G Annuities & Life by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,035 shares of the company’s stock worth $398,000 after acquiring an additional 452 shares in the last quarter. Finally, Iron Horse Wealth Management LLC lifted its position in F&G Annuities & Life by 11.6% in the second quarter. Iron Horse Wealth Management LLC now owns 5,222 shares of the company’s stock valued at $167,000 after acquiring an additional 543 shares during the last quarter. Hedge funds and other institutional investors 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.