F&G Annuities & Life (NYSE:FG) Trading Down 9% – Should You Sell?

Shares of F&G Annuities & Life, Inc. (NYSE:FG) fell 9% on Monday . The stock traded as low as $23.15 and last traded at $23.1920. 470,868 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 804,718 shares. The stock had previously closed at $25.48.

Analyst Ratings Changes

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

F&G Annuities & Life Stock Performance

The firm has a market capitalization of $3.13 billion, a P/E ratio of 12.70 and a beta of 1.47. The stock has a 50-day moving average of $29.36 and a 200 day moving average of $31.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.27 and a current ratio of 0.27.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.43). The business had revenue of $739.00 million during the quarter, compared to the consensus estimate of $1.55 billion. F&G Annuities & Life had a net margin of 4.62% and a return on equity of 10.62%. On average, research analysts anticipate that F&G Annuities & Life, Inc. will post 5.54 earnings per share for the current year.

F&G Annuities & Life Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 4.3%. F&G Annuities & Life’s dividend payout ratio is currently 54.64%.

Insiders Place Their Bets

In related news, CEO Christopher O. Blunt bought 5,000 shares of the company’s stock in a transaction 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 completion of the purchase, the chief executive officer owned 1,117,396 shares in the company, valued at approximately $33,030,225.76. The trade was a 0.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Trading of F&G Annuities & Life

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CSM Advisors LLC bought a new stake in F&G Annuities & Life during the 2nd quarter worth about $3,863,000. American Century Companies Inc. boosted its stake in shares of F&G Annuities & Life by 23.4% in the 2nd quarter. American Century Companies Inc. now owns 365,343 shares of the company’s stock valued at $11,684,000 after purchasing an additional 69,242 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of F&G Annuities & Life during the 2nd quarter worth approximately $1,916,000. Wedge Capital Management L L P NC bought a new stake in shares of F&G Annuities & Life during the third quarter worth approximately $1,434,000. Finally, Denali Advisors LLC raised its stake in shares of F&G Annuities & Life by 28.7% during the third quarter. Denali Advisors LLC now owns 223,161 shares of the company’s stock worth $6,978,000 after buying an additional 49,728 shares during the last quarter. Institutional investors and hedge funds own 95.86% of the company’s stock.

About F&G Annuities & Life

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.