F&G Annuities & Life (NYSE:FG) Trading Down 4.3% – Time to Sell?

F&G Annuities & Life, Inc. (NYSE:FG) shares were down 4.3% during trading on Friday . The company traded as low as $31.43 and last traded at $31.5650. Approximately 196,879 shares were traded during trading, a decline of 7% from the average daily volume of 211,422 shares. The stock had previously closed at $32.97.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays lowered 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. Wall Street Zen upgraded F&G Annuities & Life from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c)” rating on shares of F&G Annuities & Life in a report on Monday. Zacks Research upgraded shares of F&G Annuities & Life from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Finally, Piper Sandler set a $33.00 target price on shares of F&G Annuities & Life in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

F&G Annuities & Life Trading Down 5.7%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $4.19 billion, a P/E ratio of 9.11 and a beta of 1.45. The company has a 50-day simple moving average of $31.37 and a 200-day simple moving average of $32.20.

F&G Annuities & Life (NYSE:FG) last announced its earnings results on Tuesday, October 3rd. The company reported $1.45 earnings per share for the quarter. F&G Annuities & Life had a return on equity of 11.41% and a net margin of 8.40%.The company had revenue of $496.00 million during the quarter. On average, sell-side 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 17th. This is a positive change 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 3.2%. F&G Annuities & Life’s dividend payout ratio (DPR) is currently 29.33%.

Insider Activity at F&G Annuities & Life

In related news, CEO Christopher O. Blunt purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average price of $29.88 per share, with a total value of $149,400.00. Following the completion of the acquisition, the chief executive officer directly owned 1,146,419 shares in the company, valued at approximately $34,254,999.72. This trade represents a 0.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On F&G Annuities & Life

A number of institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. increased its holdings in F&G Annuities & Life by 474.5% in the third quarter. Harbor Capital Advisors Inc. now owns 902 shares of the company’s stock valued at $28,000 after purchasing an additional 745 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of F&G Annuities & Life by 83.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,211 shares of the company’s stock worth $38,000 after buying an additional 552 shares during the period. Quarry LP bought a new stake in shares of F&G Annuities & Life in the 1st quarter valued at about $44,000. Ameritas Investment Partners Inc. raised 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 acquiring an additional 337 shares during the period. Finally, Larson Financial Group LLC boosted its stake in F&G Annuities & Life by 939.1% during the 3rd quarter. Larson Financial Group LLC now owns 2,764 shares of the company’s stock worth $86,000 after acquiring an additional 2,498 shares during the last quarter. 95.86% of the stock is owned by institutional investors and hedge funds.

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.