F&G Annuities & Life (NYSE:FG) Reaches New 52-Week Low – Here’s Why

Shares of F&G Annuities & Life, Inc. (NYSE:FG) reached a new 52-week low during trading on Monday . The stock traded as low as $31.26 and last traded at $32.89, with a volume of 111725 shares. The stock had previously closed at $34.15.

Analyst Ratings Changes

FG has been the subject of several analyst reports. Stephens restated an “equal weight” rating and set a $47.00 price target on shares of F&G Annuities & Life in a research report on Monday, February 24th. Barclays lifted their price target on F&G Annuities & Life from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th.

F&G Annuities & Life Trading Down 2.3 %

The stock’s fifty day moving average price is $40.91 and its 200 day moving average price is $42.71. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.46. The stock has a market cap of $4.33 billion, a PE ratio of 7.04 and a beta of 1.83.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.13). F&G Annuities & Life had a net margin of 11.12% and a return on equity of 14.14%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.34 billion. On average, sell-side analysts forecast that F&G Annuities & Life, Inc. will post 5.54 EPS for the current year.

F&G Annuities & Life Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.88 annualized dividend and a yield of 2.57%. F&G Annuities & Life’s dividend payout ratio (DPR) is presently 18.14%.

Insider Activity

In related news, CEO Christopher O. Blunt bought 10,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were purchased at an average price of $35.65 per share, with a total value of $356,500.00. Following the completion of the acquisition, the chief executive officer now owns 839,584 shares of the company’s stock, valued at $29,931,169.60. This represents a 1.21 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder National Financial I. Fidelity acquired 4,500,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was acquired at an average cost of $33.60 per share, with a total value of $151,200,000.00. Following the completion of the purchase, the insider now directly owns 110,483,243 shares in the company, valued at approximately $3,712,236,964.80. This represents a 4.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,530,000 shares of company stock valued at $152,273,820 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its holdings in shares of F&G Annuities & Life by 476.6% in the 4th quarter. Federated Hermes Inc. now owns 888 shares of the company’s stock worth $37,000 after purchasing an additional 734 shares during the period. Blue Trust Inc. boosted its stake in F&G Annuities & Life by 59.6% during the fourth quarter. Blue Trust Inc. now owns 902 shares of the company’s stock worth $40,000 after buying an additional 337 shares during the period. BNP Paribas Financial Markets bought a new position in F&G Annuities & Life during the fourth quarter valued at $114,000. AlphaQuest LLC increased its position in F&G Annuities & Life by 314,200.0% during the fourth quarter. AlphaQuest LLC now owns 3,143 shares of the company’s stock valued at $130,000 after acquiring an additional 3,142 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of F&G Annuities & Life in the fourth quarter valued at $141,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.

About F&G Annuities & Life

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.