F&G Annuities & Life (NYSE:FG) Reaches New 52-Week Low – Should You Sell?

F&G Annuities & Life, Inc. (NYSE:FG) shares hit a new 52-week low on Thursday . The company traded as low as $22.23 and last traded at $23.27, with a volume of 472737 shares changing hands. The stock had previously closed at $22.75.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FG. Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Monday, December 29th. Wall Street Zen lowered F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Barclays set a $31.00 price target on shares of F&G Annuities & Life in a research report on Thursday, January 8th. Finally, Zacks Research downgraded shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research report on Monday. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $32.00.

F&G Annuities & Life Price Performance

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.27 and a current ratio of 0.27. The stock’s 50 day simple moving average is $28.70 and its two-hundred day simple moving average is $31.07. The firm has a market capitalization of $3.13 billion, a PE ratio of 12.72 and a beta of 1.46.

F&G Annuities & Life (NYSE:FG) last posted 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). F&G Annuities & Life had a net margin of 4.62% and a return on equity of 10.62%. The firm had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $1.55 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 declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.25 dividend. 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 (DPR) is currently 54.64%.

Insider Activity

In other F&G Annuities & Life news, CEO Christopher O. Blunt purchased 5,000 shares of the firm’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 acquisition, the chief executive officer directly owned 1,117,396 shares of the company’s stock, valued at approximately $33,030,225.76. This represents a 0.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On F&G Annuities & Life

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

F&G Annuities & Life Company Profile

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.