F&G Annuities & Life (NYSE:FG) Downgraded by Wall Street Zen to Hold

F&G Annuities & Life (NYSE:FG) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

FG has been the topic of several other research reports. Raymond James Financial assumed coverage on F&G Annuities & Life in a research note on Wednesday, May 6th. They set a “market perform” rating on the stock. Barclays decreased their price objective on shares of 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. Zacks Research raised shares of F&G Annuities & Life to a “hold” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.00.

F&G Annuities & Life Trading Down 0.3%

NYSE FG opened at $27.85 on Friday. F&G Annuities & Life has a 52 week low of $20.57 and a 52 week high of $36.70. The company has a 50 day moving average price of $27.77 and a 200 day moving average price of $27.26. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.47. The firm has a market cap of $3.69 billion, a PE ratio of 7.31 and a beta of 1.23.

F&G Annuities & Life (NYSE:FG) last announced its earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.08). F&G Annuities & Life had a net margin of 8.89% and a return on equity of 10.73%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.46 billion. As a group, sell-side analysts forecast that F&G Annuities & Life will post 3.66 EPS for the current fiscal year.

F&G Annuities & Life declared that its board has authorized a share buyback program 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 programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of F&G Annuities & Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC acquired a new position in F&G Annuities & Life during the fourth quarter worth $27,000. Hantz Financial Services Inc. grew its stake in shares of F&G Annuities & Life by 29,066.7% in the fourth quarter. Hantz Financial Services Inc. now owns 875 shares of the company’s stock valued at $27,000 after buying an additional 872 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of F&G Annuities & Life by 432.6% in the 4th quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after buying an additional 757 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of F&G Annuities & Life by 36,166.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,088 shares of the company’s stock valued at $34,000 after buying an additional 1,085 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of F&G Annuities & Life by 276.0% in the 4th quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock valued at $36,000 after buying an additional 861 shares during the period. 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.