Zacks Research Downgrades F&G Annuities & Life (NYSE:FG) to Strong Sell

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

FG has been the topic of a number of other research reports. Wall Street Zen lowered F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Saturday. Barclays set a $31.00 target price on F&G Annuities & Life in a report on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of F&G Annuities & Life in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $32.00.

F&G Annuities & Life Stock Performance

Shares of NYSE:FG opened at $22.70 on Monday. F&G Annuities & Life has a 12 month low of $22.55 and a 12 month high of $43.74. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 12.41 and a beta of 1.46. The company has a 50-day moving average price of $28.89 and a 200-day moving average price of $31.12. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.45.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.91 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.43). F&G Annuities & Life had a net margin of 4.62% and a return on equity of 10.62%. The company had revenue of $739.00 million for the quarter, compared to the consensus estimate of $1.55 billion. As a group, equities analysts anticipate that F&G Annuities & Life will post 5.54 EPS for the current year.

Insider Activity

In related news, CEO Christopher O. Blunt acquired 5,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were 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. The trade was a 0.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On F&G Annuities & Life

Large investors have recently made changes to their positions in 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. increased its holdings in F&G Annuities & Life by 29,066.7% during the fourth quarter. Hantz Financial Services Inc. now owns 875 shares of the company’s stock worth $27,000 after buying an additional 872 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in F&G Annuities & Life by 474.5% during the third quarter. Harbor Capital Advisors Inc. now owns 902 shares of the company’s stock worth $28,000 after acquiring an additional 745 shares in the last quarter. GAMMA Investing LLC lifted its stake in F&G Annuities & Life by 432.6% in the fourth quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after acquiring an additional 757 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in shares of F&G Annuities & Life by 36,166.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,088 shares of the company’s stock valued at $34,000 after acquiring an additional 1,085 shares during the period. Institutional investors and hedge funds own 95.86% of the company’s stock.

F&G Annuities & Life Company Profile

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.