F&G Annuities & Life (NYSE:FG) Reaches New 52-Week Low After Analyst Downgrade

F&G Annuities & Life, Inc. (NYSE:FG) reached a new 52-week low during trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $28.50 and last traded at $28.87, with a volume of 78431 shares trading hands. The stock had previously closed at $29.23.

A number of other research analysts have also recently commented on FG. Wall Street Zen upgraded shares of F&G Annuities & Life from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Barclays lowered their price target on shares of F&G Annuities & Life from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Piper Sandler set a $33.00 price objective on F&G Annuities & Life in a report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Monday, December 29th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, F&G Annuities & Life has a consensus rating of “Hold” and a consensus price target of $37.00.

Insider Buying and Selling

In related news, CEO Christopher O. Blunt purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was acquired at an average price of $29.56 per share, for a total transaction of $147,800.00. Following the completion of the purchase, the chief executive officer owned 1,117,396 shares in the company, valued at approximately $33,030,225.76. This represents a 0.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Trading of F&G Annuities & Life

Several large investors have recently added to or reduced their stakes in FG. Dimensional Fund Advisors LP lifted its position in shares of F&G Annuities & Life by 12.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 840,969 shares of the company’s stock valued at $26,299,000 after acquiring an additional 94,394 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of F&G Annuities & Life by 870.1% during the third quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock worth $20,085,000 after purchasing an additional 576,102 shares during the period. Geode Capital Management LLC lifted its holdings in shares of F&G Annuities & Life by 12.6% during the second quarter. Geode Capital Management LLC now owns 509,212 shares of the company’s stock valued at $16,286,000 after purchasing an additional 57,032 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of F&G Annuities & Life by 23.4% during the second quarter. American Century Companies Inc. now owns 365,343 shares of the company’s stock valued at $11,684,000 after purchasing an additional 69,242 shares during the last quarter. Finally, Norges Bank purchased a new position in F&G Annuities & Life in the 2nd quarter worth about $8,503,000. 95.86% of the stock is currently owned by institutional investors and hedge funds.

F&G Annuities & Life Price Performance

The stock has a 50 day moving average of $31.78 and a two-hundred day moving average of $32.07. 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 $3.82 billion, a PE ratio of 8.32 and a beta of 1.46.

F&G Annuities & Life (NYSE:FG) last announced its earnings results on Tuesday, October 3rd. The company reported $1.45 EPS for the quarter. F&G Annuities & Life had a net margin of 8.40% and a return on equity of 11.41%. The company had revenue of $496.00 million during the quarter. Equities analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were issued a $0.25 dividend. The ex-dividend date was Wednesday, December 17th. This is an increase 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 3.5%. F&G Annuities & Life’s dividend payout ratio is currently 29.33%.

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.