F&G Annuities & Life (NYSE:FG) Shares Gap Down – What’s Next?

F&G Annuities & Life, Inc. (NYSE:FG) gapped down before the market opened on Thursday . The stock had previously closed at $42.74, but opened at $38.00. F&G Annuities & Life shares last traded at $38.05, with a volume of 50,452 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays lifted their price objective on F&G Annuities & Life from $46.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Stephens reaffirmed an “equal weight” rating and issued a $47.00 price target on shares of F&G Annuities & Life in a report on Monday, February 24th.

F&G Annuities & Life Price Performance

The stock has a fifty day moving average of $43.16 and a 200-day moving average of $43.37. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $4.87 billion, a P/E ratio of 7.92 and a beta of 1.72.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.13). F&G Annuities & Life had a net margin of 11.12% and a return on equity of 14.14%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.34 billion. Equities analysts predict that F&G Annuities & Life, Inc. will post 5.54 EPS for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, March 17th. This represents a $0.88 annualized dividend and a yield of 2.29%. F&G Annuities & Life’s dividend payout ratio is currently 18.14%.

Institutional Trading of F&G Annuities & Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in F&G Annuities & Life by 23.1% during the 3rd quarter. Principal Financial Group Inc. now owns 120,336 shares of the company’s stock worth $5,381,000 after purchasing an additional 22,550 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in F&G Annuities & Life by 63.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 45,952 shares of the company’s stock worth $2,055,000 after purchasing an additional 17,845 shares during the last quarter. Barclays PLC raised its holdings in F&G Annuities & Life by 527.8% during the 3rd quarter. Barclays PLC now owns 42,524 shares of the company’s stock worth $1,902,000 after purchasing an additional 35,750 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in F&G Annuities & Life during the 3rd quarter worth about $521,000. Finally, Kelly Financial Group LLC bought a new stake in F&G Annuities & Life during the 4th quarter worth about $4,144,000. 95.86% of the stock is owned by institutional investors.

About F&G Annuities & Life

F&G Annuities & Life, Inc engages in the provision of fixed annuity and life insurance products. It specializes in life insurance, annuities, retirement planning and wealth transfer. The company was founded in 1959 and is headquartered in Des Moines, IA.