F&G Annuities & Life (NYSE:FG) Reaches New 1-Year Low - Should You Sell?

Key Points

• F&G Annuities & Life shares hit a new 52-week low, trading as low as $19.11 and closing near $19.05, well below their 50-day and 200-day moving averages.
• Analyst sentiment is bearish: Barclays cut its price target to $24, while other firms downgraded the stock to hold or sell ratings. The consensus rating is “Reduce,” with an average target price of $24.
• The company recently missed quarterly expectations, reporting $0.65 in EPS versus $0.78 expected and revenue of $1.42 billion versus $1.49 billion forecast. It still offers a quarterly dividend of $0.25 per share, equivalent to a 5.3% annualized yield.

F&G Annuities & Life, Inc. (NYSE:FG - Get Free Report) hit a new 52-week low during trading on Monday. The stock traded as low as $19.11 and last traded at $19.0470, with a volume of 41,345 shares trading hands. The stock had previously closed at $19.26.

Wall Street Analyst Weigh In

A number of research firms recently commented on FG. Barclays decreased their price objective on shares of F&G Annuities & Life from $27.00 to $24.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 7th. Wall Street Zen cut shares of F&G Annuities & Life from a "buy" rating to a "hold" rating in a report on Sunday, July 5th. Weiss Ratings downgraded shares of F&G Annuities & Life from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday. Finally, Zacks Research downgraded shares of F&G Annuities & Life from a "hold" rating to a "strong sell" rating in a research report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $24.00.

F&G Annuities & Life Stock Down 1.5%

The firm has a market capitalization of $2.48 billion, a PE ratio of 6.47 and a beta of 1.19. The firm's 50-day moving average is $23.93 and its 200 day moving average is $26.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.30 and a current ratio of 0.30.

F&G Annuities & Life (NYSE:FG - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.13). F&G Annuities & Life had a return on equity of 10.28% and a net margin of 6.89%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion. As a group, research analysts forecast that F&G Annuities & Life, Inc. will post 2.93 earnings per share for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Wednesday, September 16th. F&G Annuities & Life's payout ratio is currently 34.13%.

Institutional Investors Weigh In On F&G Annuities & Life

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in F&G Annuities & Life by 32.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,480,179 shares of the company's stock valued at $37,475,000 after purchasing an additional 358,616 shares in the last quarter. Stephens Inc. AR raised its position in shares of F&G Annuities & Life by 2,230.2% in the first quarter. Stephens Inc. AR now owns 266,175 shares of the company's stock valued at $6,740,000 after buying an additional 254,752 shares during the last quarter. SEB Asset Management AB acquired a new position in F&G Annuities & Life in the 1st quarter valued at $5,810,000. Edgestream Partners L.P. lifted its stake in shares of F&G Annuities & Life by 29.1% during the 1st quarter. Edgestream Partners L.P. now owns 191,759 shares of the company's stock worth $4,855,000 after purchasing an additional 43,264 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of F&G Annuities & Life during the 4th quarter worth $989,000. Institutional investors and hedge funds own 95.86% of the company's stock.

F&G Annuities & Life Company Profile

F&G Annuities & Life, Inc NYSE: FG is a life insurance and annuity company that provides retirement and protection solutions to individuals and institutions. The company operates through insurance subsidiaries and focuses on helping customers accumulate, preserve and transfer wealth.

F&G's product portfolio includes fixed indexed annuities, fixed-rate annuities and other retirement income products, as well as life insurance offerings such as indexed universal life and other protection-oriented policies.

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