F&G Annuities & Life (NYSE:FG) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of F&G Annuities & Life (NYSE:FG) from a buy rating to a hold rating in a report published on Saturday morning.

Several other equities research analysts have also weighed in on FG. Barclays set a $31.00 target price on shares of F&G Annuities & Life in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Monday, December 29th. Zacks Research lowered shares of F&G Annuities & Life from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Piper Sandler set a $33.00 target price on shares of F&G Annuities & Life in a research note on Tuesday, October 7th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.00.

F&G Annuities & Life Trading Up 0.9%

FG stock opened at $28.73 on Friday. F&G Annuities & Life has a 1-year low of $27.72 and a 1-year high of $47.76. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $31.75 and its 200-day moving average is $32.02. The firm has a market cap of $3.87 billion, a P/E ratio of 8.43 and a beta of 1.46.

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

F&G Annuities & Life Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were given a $0.25 dividend. This is a boost from F&G Annuities & Life’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, December 17th. This represents a $1.00 annualized dividend and a yield of 3.5%. F&G Annuities & Life’s dividend payout ratio is presently 29.33%.

Insider Buying and Selling

In other news, CEO Christopher O. Blunt bought 5,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was bought at an average cost of $29.56 per share, with a total value of $147,800.00. Following the purchase, the chief executive officer owned 1,117,396 shares of the company’s stock, valued at approximately $33,030,225.76. This represents a 0.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Trading of F&G Annuities & Life

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FG. Harbor Capital Advisors Inc. lifted its position in F&G Annuities & Life by 474.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 902 shares of the company’s stock valued at $28,000 after purchasing an additional 745 shares during the period. GAMMA Investing LLC raised its stake 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 worth $29,000 after buying an additional 757 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in F&G Annuities & Life by 83.8% in the third quarter. EverSource Wealth Advisors LLC now owns 1,211 shares of the company’s stock valued at $38,000 after buying an additional 552 shares during the period. Board of the Pension Protection Fund acquired a new position in F&G Annuities & Life in the fourth quarter valued at approximately $52,000. Finally, Ameritas Investment Partners Inc. boosted its stake in F&G Annuities & Life by 18.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,174 shares of the company’s stock valued at $70,000 after acquiring an additional 337 shares during the last quarter. 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.