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

F&G Annuities & Life, Inc. (NYSE:FG)’s stock price reached a new 52-week low on Monday. The stock traded as low as $19.11 and last traded at $19.0470, with a volume of 41,345 shares changing hands. The stock had previously closed at $19.26.

Analyst Ratings Changes

A number of research firms have commented on FG. Zacks Research cut shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Barclays cut their target price on shares of F&G Annuities & Life from $27.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. Wall Street Zen downgraded shares of F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Sunday, July 5th. Finally, Weiss Ratings lowered shares of F&G Annuities & Life from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $24.00.

F&G Annuities & Life Stock Up 1.2%

The company has a market cap of $2.51 billion, a price-to-earnings ratio of 6.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a 50-day moving average price of $23.52 and a 200 day moving average price of $26.30.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.13). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion. F&G Annuities & Life had a return on equity of 10.28% and a net margin of 6.89%. Sell-side analysts predict that F&G Annuities & Life, Inc. will post 2.93 EPS for the current year.

F&G Annuities & Life Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 16th. This represents a $1.00 annualized dividend and a yield of 5.2%. F&G Annuities & Life’s dividend payout ratio (DPR) is presently 34.13%.

Institutional Investors Weigh In On F&G Annuities & Life

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC raised its stake in F&G Annuities & Life by 578.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,892 shares of the company’s stock worth $41,000 after purchasing an additional 1,613 shares in the last quarter. Tidal Investments LLC boosted its holdings in F&G Annuities & Life by 18.4% in the 2nd quarter. Tidal Investments LLC now owns 32,534 shares of the company’s stock valued at $865,000 after purchasing an additional 5,052 shares during the period. Engineers Gate Manager LP grew its position in shares of F&G Annuities & Life by 120.4% during the 2nd quarter. Engineers Gate Manager LP now owns 21,384 shares of the company’s stock worth $569,000 after purchasing an additional 11,682 shares in the last quarter. Allworth Financial LP grew its position in shares of F&G Annuities & Life by 49.6% during the 2nd quarter. Allworth Financial LP now owns 1,728 shares of the company’s stock worth $46,000 after purchasing an additional 573 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new position in shares of F&G Annuities & Life during the 2nd quarter worth approximately $31,000. Institutional investors own 95.86% of the company’s stock.

About F&G Annuities & Life

F&G Annuities & Life, Inc (NYSE: FG) is a life insurance and annuity company that provides retirement and protection solutions to individuals and institutions. The company operates through insurance subsidiaries and focuses on helping customers accumulate, preserve and transfer wealth.

F&G’s product portfolio includes fixed indexed annuities, fixed-rate annuities and other retirement income products, as well as life insurance offerings such as indexed universal life and other protection-oriented policies.