F&G Annuities & Life (NYSE:FG) Hits New 52-Week Low After Earnings Miss

Shares of F&G Annuities & Life, Inc. (NYSE:FGGet Free Report) reached a new 52-week low on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $26.44 and last traded at $25.1960, with a volume of 52060 shares trading hands. The stock had previously closed at $27.68.

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.

F&G Annuities & Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, March 17th. F&G Annuities & Life’s dividend payout ratio is currently 29.33%.

Key Headlines Impacting F&G Annuities & Life

Here are the key news stories impacting F&G Annuities & Life this week:

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FG shares. Wall Street Zen downgraded shares of F&G Annuities & Life from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Monday, December 29th. Zacks Research downgraded shares of F&G Annuities & Life from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Barclays set a $31.00 price target on F&G Annuities & Life in a research report on Thursday, January 8th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.00.

View Our Latest Report on F&G Annuities & Life

Insider Transactions at F&G Annuities & Life

In related news, CEO Christopher O. Blunt bought 5,000 shares of the company’s stock in a transaction 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 purchase, the chief executive officer directly 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On F&G Annuities & Life

Several hedge funds have recently made changes to their positions in FG. Vanguard Group Inc. increased its stake in shares of F&G Annuities & Life by 85.4% during the fourth quarter. Vanguard Group Inc. now owns 3,807,765 shares of the company’s stock valued at $117,470,000 after buying an additional 1,753,709 shares during the period. Ameriprise Financial Inc. grew its holdings in F&G Annuities & Life by 870.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock worth $20,085,000 after acquiring an additional 576,102 shares in the last quarter. Norges Bank bought a new position in F&G Annuities & Life during the 4th quarter worth about $14,568,000. State Street Corp increased its position in F&G Annuities & Life by 93.6% during the 4th quarter. State Street Corp now owns 847,443 shares of the company’s stock valued at $26,144,000 after purchasing an additional 409,743 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of F&G Annuities & Life by 445.3% in the 4th quarter. AQR Capital Management LLC now owns 465,295 shares of the company’s stock valued at $14,354,000 after purchasing an additional 379,970 shares in the last quarter. 95.86% of the stock is currently owned by hedge funds and other institutional investors.

F&G Annuities & Life Price Performance

The firm’s 50-day moving average price is $29.36 and its two-hundred day moving average price is $31.30. The stock has a market cap of $3.43 billion, a PE ratio of 13.93 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.

About F&G Annuities & Life

(Get Free Report)

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.

Further Reading

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