F&G Annuities & Life (NYSE:FG) Shares Down 9% – Here’s Why

F&G Annuities & Life, Inc. (NYSE:FG)’s share price fell 9% during mid-day trading on Monday . The company traded as low as $23.15 and last traded at $23.1920. 470,868 shares were traded during mid-day trading, a decline of 41% from the average session volume of 804,718 shares. The stock had previously closed at $25.48.

Analyst Ratings Changes

FG has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a report on Monday, December 29th. Wall Street Zen downgraded shares of F&G Annuities & Life from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays set a $31.00 price objective on F&G Annuities & Life in a research note on Thursday, January 8th. Finally, Zacks Research downgraded F&G Annuities & Life from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, F&G Annuities & Life has an average rating of “Hold” and an average price target of $37.00.

F&G Annuities & Life Price Performance

The stock has a market capitalization of $3.13 billion, a P/E ratio of 12.70 and a beta of 1.47. The company has a 50 day moving average of $29.36 and a 200-day moving average of $31.28. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.45.

F&G Annuities & Life (NYSE:FG) last issued its earnings results 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). F&G Annuities & Life had a return on equity of 10.62% and a net margin of 4.62%.The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $1.55 billion. Sell-side analysts predict that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Dividend Announcement

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

Insider Transactions at F&G Annuities & Life

In related news, CEO Christopher O. Blunt bought 5,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was bought at an average cost of $29.56 per share, for a total transaction of $147,800.00. Following the completion of the purchase, the chief executive officer directly owned 1,117,396 shares in the company, valued at approximately $33,030,225.76. The trade was a 0.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On F&G Annuities & Life

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Elevated Capital Advisors LLC acquired a new stake in F&G Annuities & Life in the 4th quarter valued at approximately $27,000. Hantz Financial Services Inc. boosted its position 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 worth $27,000 after acquiring an additional 872 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of F&G Annuities & Life by 474.5% in the third quarter. Harbor Capital Advisors Inc. now owns 902 shares of the company’s stock worth $28,000 after purchasing an additional 745 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of F&G Annuities & Life by 432.6% during the fourth quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after purchasing an additional 757 shares during the period. Finally, Quadrant Capital Group LLC increased 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 valued at $34,000 after purchasing an additional 1,085 shares during the period. 95.86% of the stock is currently owned by institutional investors and hedge funds.

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.