F&G Annuities Stock Analysis and Earnings Summary
During mid-day trading on Wednesday, F&G Annuities & Life, Inc. (NYSE: FG) observed its stock price drop to a new 52-week low, reaching $21.38, before closing at $22.71 with a trading volume of 547,810 shares. Previously, the stock had closed at $22.42. Research analysts have issued differing ratings: Zacks Research downgraded the stock to a "strong sell," Weiss Ratings maintained a "hold (c)" rating, and Wall Street Zen changed its rating to "hold." Barclays set a target price of $31.00 for the stock. Currently, the consensus rating is "Reduce," with a general price target of $32.00, according to MarketBeat.com.
F&G Annuities & Life highlights a current ratio and quick ratio both at 0.27, alongside a debt-to-equity ratio of 0.45. The company boasts a market capitalization of $3.08 billion, a price-to-earnings ratio of 12.41, and a beta of 1.59. Its recent 50-day moving average sits at $28.00, while the 200-day moving average is $30.70, reflecting its market volatility.
On February 19th, F&G Annuities & Life announced its quarterly earnings, reporting $0.91 earnings per share, which fell short of the projected $1.34. The company's return on equity was 10.62%, and its net margin stood at 4.62%. Revenue for the quarter was reported at $739.00 million against analyst expectations of $1.55 billion. Analysts predict the company will achieve earnings per share of 5.54 for the year.
The company has declared a quarterly dividend of $0.25 per share, payable on March 31st to shareholders of record on March 17th. This equates to an annualized dividend of $1.00 with a yield of 4.4%, and the current dividend payout ratio stands at 54.64%. These figures highlight the company’s strategic approach to shareholder returns.
In a recent insider transaction, CEO Christopher O. Blunt purchased 5,000 shares at an average price of $29.56, totaling $147,800, which increased his holdings by 0.45%. This transaction was filed with the SEC, further demonstrating insider confidence in the company. Insiders currently hold 2.10% of the firm.
Institutional Investment Activity
In the fourth quarter, institutional investors made significant changes to their holdings. Vanguard Group Inc. increased its stake by 85.4% to 3,807,765 shares, valued at approximately $117.47 million. Dimensional Fund Advisors LP grew its investment by 33.4% to 1,121,563 shares. State Street Corp augmented its position by 93.6% to 847,443 shares, while Geode Capital Management LLC expanded its holdings by 44.2%. Ameriprise Financial Inc. notably increased its stake in the third quarter by 870.1%. Institutional investors and hedge funds collectively own 95.86% of the company.
F&G Annuities & Life, the main life insurance and annuity arm of F&G Financial Group, Inc., is focused on providing retirement income solutions. Their product offerings include fixed indexed and fixed-rate annuities, along with a variety of life insurance policies such as term, universal, and variable universal life.