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

Shares of 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 Analysts Forecast Growth

Several brokerages recently weighed in on FG. Stephens restated an “equal weight” rating and set a $47.00 target price on shares of F&G Annuities & Life in a report on Monday, February 24th. Barclays increased their target price 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.

F&G Annuities & Life Price Performance

The firm has a fifty day moving average of $42.97 and a two-hundred day moving average of $43.25. The company has a market capitalization of $4.41 billion, a PE ratio of 7.17 and a beta of 1.72. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.46.

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

F&G Annuities & Life Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.22 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.53%. F&G Annuities & Life’s dividend payout ratio is currently 18.14%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FG. GSA Capital Partners LLP purchased a new position in shares of F&G Annuities & Life in the 3rd quarter valued at approximately $231,000. Charles Schwab Investment Management Inc. raised its stake in F&G Annuities & Life by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 201,582 shares of the company’s stock valued at $9,015,000 after buying an additional 10,584 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in F&G Annuities & Life during the third quarter valued at $381,000. Hotchkis & Wiley Capital Management LLC purchased a new position in F&G Annuities & Life during the third quarter valued at $6,369,000. Finally, Point72 Asset Management L.P. purchased a new position in F&G Annuities & Life during the third quarter valued at $521,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.

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.