F&G Annuities & Life (NYSE:FG) Cut to “Hold” at Zacks Research

Zacks Research cut shares of F&G Annuities & Life (NYSE:FG) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on FG. Piper Sandler set a $33.00 target price on shares of F&G Annuities & Life in a research report on Tuesday, October 7th. Barclays cut their price objective on 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. Weiss Ratings reissued a “hold (c)” rating on shares of F&G Annuities & Life in a report on Monday, December 29th. Finally, Wall Street Zen raised F&G Annuities & Life from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.00.

F&G Annuities & Life Stock Down 3.7%

F&G Annuities & Life stock opened at $28.36 on Tuesday. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 8.32 and a beta of 1.46. 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 has a 12 month low of $28.19 and a 12 month high of $47.76. The stock has a fifty day simple moving average of $31.77 and a two-hundred day simple moving average of $32.04.

F&G Annuities & Life (NYSE:FG) last issued its earnings results on Tuesday, October 3rd. The company reported $1.45 earnings per share for the quarter. The business had revenue of $496.00 million during the quarter. F&G Annuities & Life had a return on equity of 11.41% and a net margin of 8.40%. Equities analysts predict that F&G Annuities & Life will post 5.54 EPS 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. Stockholders of record on Wednesday, December 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, December 17th. This is an increase from F&G Annuities & Life’s previous quarterly dividend of $0.22. F&G Annuities & Life’s payout ratio is presently 29.33%.

Insider Activity

In other news, CEO Christopher O. Blunt bought 5,000 shares of F&G Annuities & Life stock in a transaction that occurred on 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 acquisition, the chief executive officer owned 1,117,396 shares of the company’s stock, valued at $33,030,225.76. The trade was a 0.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Institutional Trading of F&G Annuities & Life

Institutional investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. lifted its holdings in F&G Annuities & Life by 474.5% in the 3rd 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 raised its position 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 buying an additional 757 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 worth $38,000 after buying an additional 552 shares in the last quarter. Board of the Pension Protection Fund bought a new position in shares of F&G Annuities & Life during the fourth quarter worth $52,000. Finally, Ameritas Investment Partners Inc. boosted its position in shares of F&G Annuities & Life by 18.3% during the second quarter. Ameritas Investment Partners Inc. now owns 2,174 shares of the company’s stock worth $70,000 after acquiring an additional 337 shares during the last quarter. Hedge funds and other institutional investors 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.