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

F&G Annuities & Life, Inc. (NYSE:FG)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $21.38 and last traded at $22.71, with a volume of 547810 shares traded. The stock had previously closed at $22.42.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FG shares. Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Monday, December 29th. Wall Street Zen cut F&G Annuities & Life from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Zacks Research lowered shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Finally, Barclays set a $31.00 price objective on shares of F&G Annuities & Life in a research note on Thursday, January 8th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $32.00.

F&G Annuities & Life Stock Up 1.3%

The firm’s 50-day moving average is $28.00 and its 200 day moving average is $30.70. The firm has a market capitalization of $3.08 billion, a P/E ratio of 12.41 and a beta of 1.59. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.27 and a current ratio of 0.27.

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

F&G Annuities & Life Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, March 17th. F&G Annuities & Life’s dividend payout ratio is currently 54.64%.

Insider Buying and Selling at F&G Annuities & Life

In other F&G Annuities & Life news, CEO Christopher O. Blunt purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were acquired 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 owned 1,117,396 shares of the company’s stock, valued at approximately $33,030,225.76. The trade was a 0.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of F&G Annuities & Life

Institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in F&G Annuities & Life in the first quarter valued at about $89,000. AQR Capital Management LLC bought a new stake in F&G Annuities & Life in the first quarter valued at approximately $521,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in F&G Annuities & Life by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,035 shares of the company’s stock valued at $398,000 after purchasing an additional 452 shares during the period. Millennium Management LLC increased its position in shares of F&G Annuities & Life by 330.8% during the first quarter. Millennium Management LLC now owns 217,306 shares of the company’s stock worth $7,834,000 after buying an additional 166,863 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in F&G Annuities & Life during the first quarter valued at $276,000. 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.