Wall Street Zen Downgrades F&G Annuities & Life (NYSE:FG) to Hold
by Doug Wharley · The Cerbat GemF&G Annuities & Life (NYSE:FG – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
A number of other equities research analysts have also recently weighed in on FG. Barclays reduced their price objective on F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Zacks Research cut F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $30.00.
Get Our Latest Stock Report on FG
F&G Annuities & Life Price Performance
Shares of NYSE FG opened at $24.03 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.45. F&G Annuities & Life has a twelve month low of $20.57 and a twelve month high of $36.70. The stock has a 50 day moving average of $25.02 and a two-hundred day moving average of $28.66. The stock has a market cap of $3.26 billion, a P/E ratio of 13.13 and a beta of 1.28.
F&G Annuities & Life (NYSE:FG – Get Free Report) last issued its quarterly earnings data 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 net margin of 4.62% and a return on equity of 10.48%. The firm had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $1.55 billion. On average, research analysts forecast that F&G Annuities & Life will post 5.54 earnings per share for the current year.
F&G Annuities & Life declared that its board has initiated a share buyback plan on Monday, March 16th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Insider Buying and Selling
In related news, Director Celina J. Wang Doka bought 4,760 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $20.98 per share, with a total value of $99,864.80. Following the completion of the acquisition, the director owned 32,071 shares in the company, valued at approximately $672,849.58. This trade represents a 17.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher O. Blunt bought 10,000 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $20.99 per share, for a total transaction of $209,900.00. Following the acquisition, the chief executive officer owned 1,107,128 shares of the company’s stock, valued at approximately $23,238,616.72. This trade represents a 0.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Confluence Investment Management LLC acquired a new position in F&G Annuities & Life during the fourth quarter worth $3,742,000. DAVENPORT & Co LLC acquired a new position in F&G Annuities & Life during the fourth quarter worth $1,923,000. Denali Advisors LLC grew its holdings in 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 acquiring an additional 49,728 shares during the period. Wedge Capital Management L L P NC acquired a new position in F&G Annuities & Life during the third quarter worth $1,434,000. Finally, Versor Investments LP acquired a new position in F&G Annuities & Life during the third quarter worth $772,000. Institutional investors and hedge funds own 95.86% of the company’s stock.
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.