F&G Annuities & Life (NYSE:FG) Hits New 1-Year Low - Here's What Happened

Key Points

• F&G Annuities & Life's stock reached a new 52-week low of $29.91 during trading, closing at $30.20, with a trading volume of 35,625 shares.
• Wall Street analysts remain cautiously optimistic, with F&G Annuities & Life receiving a consensus "Hold" rating and a price target of $38.33.
• The company reported an earnings per share (EPS) of $0.77 for the last quarter, surpassing analysts' estimates by $0.13, and had revenue significantly above expectations at $2.74 billion.

F&G Annuities & Life, Inc. (NYSE:FG - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $29.91 and last traded at $30.20, with a volume of 35625 shares trading hands. The stock had previously closed at $30.41.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FG shares. Wall Street Zen raised shares of F&G Annuities & Life from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Piper Sandler set a $33.00 price objective on shares of F&G Annuities & Life in a research note on Tuesday. Zacks Research raised shares of F&G Annuities & Life from a "strong sell" rating to a "hold" rating in a research note on Monday, September 1st. Barclays decreased their price objective on shares of F&G Annuities & Life from $40.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of F&G Annuities & Life in a research note on Saturday, September 27th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, F&G Annuities & Life has a consensus rating of "Hold" and a consensus price target of $38.33.

F&G Annuities & Life Trading Down 1.6%

The company has a market cap of $4.03 billion, a price-to-earnings ratio of 12.08 and a beta of 1.49. The business's fifty day moving average price is $33.44 and its 200 day moving average price is $33.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.26 and a quick ratio of 0.26.

F&G Annuities & Life (NYSE:FG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $1.35 billion. F&G Annuities & Life had a net margin of 6.45% and a return on equity of 11.51%. Research analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were issued a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 2.9%. F&G Annuities & Life's payout ratio is presently 35.48%.

Insider Transactions at F&G Annuities & Life

In related news, EVP Leena Punjabi sold 3,000 shares of the business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $33.81, for a total value of $101,430.00. Following the transaction, the executive vice president owned 64,064 shares in the company, valued at $2,166,003.84. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On F&G Annuities & Life

Several institutional investors have recently made changes to their positions in FG. Fidelity National Financial Inc. increased its position in shares of F&G Annuities & Life by 4.2% during the first quarter. Fidelity National Financial Inc. now owns 110,942,551 shares of the company's stock worth $3,999,479,000 after acquiring an additional 4,500,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of F&G Annuities & Life by 8.9% during the first quarter. Vanguard Group Inc. now owns 2,029,913 shares of the company's stock worth $73,178,000 after acquiring an additional 165,489 shares in the last quarter. Geode Capital Management LLC increased its position in shares of F&G Annuities & Life by 12.6% during the second quarter. Geode Capital Management LLC now owns 509,212 shares of the company's stock worth $16,286,000 after acquiring an additional 57,032 shares in the last quarter. American Century Companies Inc. increased its position in shares of F&G Annuities & Life by 23.4% during the second quarter. American Century Companies Inc. now owns 365,343 shares of the company's stock worth $11,684,000 after acquiring an additional 69,242 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of F&G Annuities & Life during the second quarter worth about $8,503,000. Institutional investors and hedge funds own 95.86% of the company's stock.

F&G Annuities & Life Company Profile

F&G Annuities & Life, Inc engages in the provision of fixed annuity and life insurance products. It specializes in life insurance, annuities, retirement planning and wealth transfer. The company was founded in 1959 and is headquartered in Des Moines, IA.

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