F&G Annuities & Life (NYSE:FG) Hits New 1-Year Low – Here’s What Happened

F&G Annuities & Life, Inc. (NYSE:FG) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $28.50 and last traded at $28.87, with a volume of 78431 shares. The stock had previously closed at $29.23.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FG. Barclays reduced their price objective on F&G Annuities & Life from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Monday, December 29th. Piper Sandler set a $33.00 price objective on shares of F&G Annuities & Life in a research report on Tuesday, October 7th. Zacks Research raised shares of F&G Annuities & Life from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Wall Street Zen upgraded F&G Annuities & Life from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.33.

F&G Annuities & Life Trading Down 2.6%

The firm has a 50-day moving average of $31.78 and a 200 day moving average of $32.11. 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 stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 8.34 and a beta of 1.46.

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

F&G Annuities & Life Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.5%. This is a boost from F&G Annuities & Life’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, December 17th. F&G Annuities & Life’s dividend payout ratio (DPR) is presently 29.33%.

Insider Activity

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

Institutional Trading of F&G Annuities & Life

Several hedge funds and other institutional investors have recently modified their holdings of FG. 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 worth $28,000 after acquiring an additional 745 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of F&G Annuities & Life by 432.6% in the 4th quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after purchasing an additional 757 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of F&G Annuities & Life by 83.8% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,211 shares of the company’s stock valued at $38,000 after purchasing an additional 552 shares during the period. Board of the Pension Protection Fund purchased a new stake in shares of F&G Annuities & Life in the fourth quarter worth approximately $52,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of F&G Annuities & Life by 18.3% during the second quarter. Ameritas Investment Partners Inc. now owns 2,174 shares of the company’s stock worth $70,000 after purchasing an additional 337 shares during the period. 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.