F&G Annuities & Life (NYSE:FG) Sets New 52-Week Low – What’s Next?

F&G Annuities & Life, Inc. (NYSE:FG)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $21.38 and last traded at $22.71, with a volume of 547810 shares changing hands. The stock had previously closed at $22.42.

Wall Street Analyst Weigh In

FG has been the subject of several recent research reports. Barclays set a $31.00 price objective on F&G Annuities & Life in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Monday, December 29th. Wall Street Zen lowered F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Zacks Research downgraded F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $32.00.

F&G Annuities & Life Stock Up 1.0%

The company has a market cap of $3.18 billion, a price-to-earnings ratio of 12.82 and a beta of 1.59. The business has a 50-day simple moving average of $27.67 and a two-hundred day simple moving average of $30.60. The company has a quick ratio of 0.27, a current ratio of 0.26 and a debt-to-equity ratio of 0.45.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.43). The company had revenue of $739.00 million during the quarter, compared to the consensus estimate of $1.55 billion. F&G Annuities & Life had a net margin of 4.62% and a return on equity of 10.48%. As a group, equities analysts forecast that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current fiscal year.

F&G Annuities & Life Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, March 17th. F&G Annuities & Life’s payout ratio is presently 54.64%.

Insider Activity

In other news, CEO Christopher O. Blunt bought 5,000 shares of the 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 purchase, the chief executive officer owned 1,117,396 shares of the company’s stock, valued at $33,030,225.76. This represents a 0.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On F&G Annuities & Life

Hedge funds have recently bought and sold shares of the company. Elevated Capital Advisors LLC acquired a new stake in shares of F&G Annuities & Life in the fourth quarter valued at about $27,000. Hantz Financial Services Inc. boosted its stake in F&G Annuities & Life by 29,066.7% during the 4th quarter. Hantz Financial Services Inc. now owns 875 shares of the company’s stock valued at $27,000 after purchasing an additional 872 shares during the period. Harbor Capital Advisors Inc. grew its holdings 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 during the last quarter. GAMMA Investing LLC increased its position in F&G Annuities & Life by 432.6% in the 4th quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock worth $29,000 after buying an additional 757 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of F&G Annuities & Life by 36,166.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,088 shares of the company’s stock worth $34,000 after buying an additional 1,085 shares during the last quarter. 95.86% of the stock is currently owned by institutional investors.

About F&G Annuities & Life

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.