F&G Annuities & Life (NYSE:FG) Hits New 1-Year Low After Earnings Miss

F&G Annuities & Life, Inc. (NYSE:FG)’s share price reached a new 52-week low during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $26.44 and last traded at $25.1960, with a volume of 52060 shares trading hands. The stock had previously closed at $27.68.

The company reported $0.91 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.43). F&G Annuities & Life had a net margin of 8.40% and a return on equity of 11.41%. The firm had revenue of $739.00 million for the quarter, compared to analysts’ expectations of $1.55 billion.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a report on Monday, December 29th. Barclays set a $31.00 price target on shares of F&G Annuities & Life in a report on Thursday, January 8th. Wall Street Zen upgraded F&G Annuities & Life from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Zacks Research lowered shares of F&G Annuities & Life from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.00.

Insider Activity at F&G Annuities & Life

In other news, CEO Christopher O. Blunt bought 5,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were bought at an average cost of $29.56 per share, with a total value of $147,800.00. Following the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On F&G Annuities & Life

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of F&G Annuities & Life by 85.4% during the 4th quarter. Vanguard Group Inc. now owns 3,807,765 shares of the company’s stock worth $117,470,000 after purchasing an additional 1,753,709 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of F&G Annuities & Life by 33.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,121,563 shares of the company’s stock valued at $34,605,000 after buying an additional 280,594 shares during the period. State Street Corp lifted its stake in F&G Annuities & Life by 93.6% in the fourth quarter. State Street Corp now owns 847,443 shares of the company’s stock valued at $26,144,000 after buying an additional 409,743 shares in the last quarter. Geode Capital Management LLC raised its position in F&G Annuities & Life by 44.2% in the 4th quarter. Geode Capital Management LLC now owns 736,885 shares of the company’s stock valued at $22,735,000 after buying an additional 225,817 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of F&G Annuities & Life by 870.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock valued at $20,085,000 after acquiring an additional 576,102 shares in the last quarter. Institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Stock Performance

The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $29.54 and its two-hundred day moving average is $31.34. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 7.38 and a beta of 1.46.

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.