F&G Annuities & Life (NYSE:FG) Rating Lowered to “Hold” at Zacks Research

F&G Annuities & Life (NYSE:FG) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on FG. Wall Street Zen upgraded shares of F&G Annuities & Life from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Piper Sandler set a $33.00 price objective on F&G Annuities & Life in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a report on Monday, December 29th. Finally, Barclays cut their price target on shares of F&G Annuities & Life from $40.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, F&G Annuities & Life currently has a consensus rating of “Hold” and a consensus target price of $38.33.

F&G Annuities & Life Trading Up 1.9%

F&G Annuities & Life stock opened at $29.44 on Tuesday. 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 $3.96 billion, a PE ratio of 8.63 and a beta of 1.46. The stock has a 50-day moving average of $31.78 and a two-hundred day moving average of $32.07. F&G Annuities & Life has a one year low of $28.19 and a one year high of $47.76.

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

Insider Activity at F&G Annuities & Life

In other news, CEO Christopher O. Blunt bought 5,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was purchased at an average cost of $29.56 per share, with a total value of $147,800.00. Following the acquisition, the chief executive officer directly owned 1,117,396 shares in the company, valued at $33,030,225.76. This trade represents a 0.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in shares of F&G Annuities & Life by 870.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock worth $20,085,000 after acquiring an additional 576,102 shares in the last quarter. Norges Bank acquired a new position in F&G Annuities & Life in the 2nd quarter worth about $8,503,000. Millennium Management LLC raised its holdings in F&G Annuities & Life by 330.8% in the 1st quarter. Millennium Management LLC now owns 217,306 shares of the company’s stock worth $7,834,000 after purchasing an additional 166,863 shares during the period. Denali Advisors LLC boosted its position in F&G Annuities & Life by 1,248.2% during the second quarter. Denali Advisors LLC now owns 173,433 shares of the company’s stock worth $5,546,000 after purchasing an additional 160,569 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its holdings in F&G Annuities & Life by 1,634.1% in the second quarter. Y Intercept Hong Kong Ltd now owns 130,094 shares of the company’s stock valued at $4,160,000 after purchasing an additional 122,592 shares during the period. Hedge funds and other institutional investors own 95.86% of the company’s stock.

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.