F&G Annuities & Life (NYSE:FG) Stock Price Down 6.6% – Here’s What Happened

F&G Annuities & Life, Inc. (NYSE:FG) shares were down 6.6% on Tuesday . The company traded as low as $24.49 and last traded at $24.5610. Approximately 192,781 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 747,412 shares. The stock had previously closed at $26.31.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FG shares. Zacks Research cut F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Wall Street Zen raised F&G Annuities & Life from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a report on Friday, March 27th. Finally, Barclays cut their price target on F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $30.00.

F&G Annuities & Life Stock Performance

The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 13.48 and a beta of 1.28. The stock has a fifty day moving average price of $25.21 and a two-hundred day moving average price of $28.81. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.45.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.43). F&G Annuities & Life had a return on equity of 10.48% and a net margin of 4.62%.The company had revenue of $739.00 million during the quarter, compared to analyst estimates of $1.55 billion. As a group, analysts forecast that F&G Annuities & Life, Inc. will post 5.54 EPS for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, March 17th. F&G Annuities & Life’s dividend payout ratio is currently 54.64%.

F&G Annuities & Life declared that its Board of Directors has authorized a share repurchase program on Monday, March 16th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other F&G Annuities & Life news, CEO Christopher O. Blunt purchased 10,000 shares of F&G Annuities & Life stock in a transaction on Friday, March 13th. The shares were bought at an average price of $20.99 per share, with a total value of $209,900.00. Following the purchase, the chief executive officer directly owned 1,107,128 shares in the company, valued at $23,238,616.72. This trade represents a 0.91% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Celina J. Wang Doka purchased 4,760 shares of F&G Annuities & Life stock in a transaction on Friday, March 13th. The shares were acquired at an average cost of $20.98 per share, for a total transaction of $99,864.80. Following the purchase, the director owned 32,071 shares in the company, valued at approximately $672,849.58. This trade represents a 17.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Elevated Capital Advisors LLC purchased a new position in shares of F&G Annuities & Life during the 4th quarter worth $27,000. Hantz Financial Services Inc. lifted its stake in shares of F&G Annuities & Life by 29,066.7% during the 4th quarter. Hantz Financial Services Inc. now owns 875 shares of the company’s stock worth $27,000 after purchasing an additional 872 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of F&G Annuities & Life by 474.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 902 shares of the company’s stock worth $28,000 after buying an additional 745 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of F&G Annuities & Life by 432.6% during the 4th quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock worth $29,000 after buying an additional 757 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of F&G Annuities & Life by 36,166.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,088 shares of the company’s stock worth $34,000 after buying an additional 1,085 shares during the last quarter. Hedge funds and other institutional investors 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.