F&G Annuities & Life (NYSE:FG – Get Free Report) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday, Zacks reports.
FG has been the subject of several other reports. Raymond James Financial began coverage on F&G Annuities & Life in a research note on Wednesday, May 6th. They set a “market perform” rating for the company. Weiss Ratings cut F&G Annuities & Life from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen downgraded F&G Annuities & Life from a “buy” rating to a “hold” rating in a report on Sunday, July 5th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $30.00.
Read Our Latest Research Report on FG
F&G Annuities & Life Price Performance
F&G Annuities & Life (NYSE:FG – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Equities research analysts anticipate that F&G Annuities & Life will post 3.17 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its position in shares of F&G Annuities & Life by 29,066.7% in 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 last quarter. Quadrant Capital Group LLC lifted its position in shares of F&G Annuities & Life by 36,166.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,088 shares of the company’s stock worth $34,000 after purchasing an additional 1,085 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of F&G Annuities & Life during the second quarter worth about $31,000. Allworth Financial LP grew its stake in F&G Annuities & Life by 276.0% in the fourth quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock worth $36,000 after purchasing an additional 861 shares in the last quarter. Finally, FIL Ltd bought a new stake in F&G Annuities & Life in the fourth quarter valued at about $37,000. 95.86% of the stock is owned by institutional investors and hedge funds.
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.
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