F&G Annuities & Life (NYSE:FG) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of F&G Annuities & Life (NYSE:FG) from a hold rating to a buy rating in a report released on Saturday.

A number of other research analysts have also weighed in on the company. Barclays cut 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 report on Wednesday, April 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a report on Friday, March 27th. Finally, Zacks Research downgraded shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $30.00.

F&G Annuities & Life Trading Down 0.0%

NYSE:FG opened at $28.64 on Friday. F&G Annuities & Life has a one year low of $20.57 and a one year high of $36.70. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 15.65 and a beta of 1.28. The business has a fifty day moving average price of $24.72 and a 200-day moving average price of $28.35.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.91 earnings per share (EPS) 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 business had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $1.55 billion.

F&G Annuities & Life announced that its board has authorized a stock buyback plan on Monday, March 16th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

F&G Annuities & Life Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, March 17th. F&G Annuities & Life’s payout ratio is currently 54.64%.

Insider Activity at F&G Annuities & Life

In related news, CEO Christopher O. Blunt purchased 10,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was purchased at an average price of $20.99 per share, with a total value of $209,900.00. Following the completion of the purchase, the chief executive officer owned 1,107,128 shares of the company’s stock, valued at approximately $23,238,616.72. The trade was a 0.91% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Celina J. Wang Doka acquired 4,760 shares of the business’s stock in a transaction that occurred 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 completion of the acquisition, the director owned 32,071 shares of the company’s stock, valued at $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. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On F&G Annuities & Life

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its stake in shares of F&G Annuities & Life by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,574 shares of the company’s stock worth $49,000 after buying an additional 363 shares during the period. Stoneridge Investment Partners LLC raised its position in shares of F&G Annuities & Life by 6.7% in the third quarter. Stoneridge Investment Partners LLC now owns 6,869 shares of the company’s stock worth $215,000 after acquiring an additional 429 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of F&G Annuities & Life by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,035 shares of the company’s stock worth $398,000 after acquiring an additional 452 shares during the period. Apella Capital LLC raised its position in shares of F&G Annuities & Life by 4.5% in the fourth quarter. Apella Capital LLC now owns 10,551 shares of the company’s stock worth $325,000 after acquiring an additional 458 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of F&G Annuities & Life by 6.2% during the fourth quarter. Intech Investment Management LLC now owns 9,558 shares of the company’s stock worth $295,000 after purchasing an additional 562 shares in the last quarter. 95.86% of the stock is currently 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.