Zacks Research Downgrades F&G Annuities & Life (NYSE:FG) to Strong Sell

F&G Annuities & Life (NYSE:FG) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday, Zacks reports.

Other equities analysts have also recently issued research reports about the company. Raymond James Financial began coverage on F&G Annuities & Life in a report on Wednesday, May 6th. They set a “market perform” rating on the stock. Weiss Ratings lowered shares of F&G Annuities & Life from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of F&G Annuities & Life from a “buy” rating to a “hold” rating in a research note on Sunday, July 5th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $30.00.

F&G Annuities & Life Trading Up 0.5%

FG opened at $25.00 on Thursday. The firm’s fifty day moving average is $27.47 and its two-hundred day moving average is $26.61. The firm has a market cap of $3.27 billion, a PE ratio of 8.53 and a beta of 1.17. F&G Annuities & Life has a twelve month low of $20.57 and a twelve month high of $35.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.30 and a current ratio of 0.30.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.13). F&G Annuities & Life had a return on equity of 10.28% and a net margin of 6.89%.The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion. Equities research analysts anticipate that F&G Annuities & Life will post 3.17 EPS for the current year.

Institutional Trading of F&G Annuities & Life

A number of institutional investors and hedge funds have recently made changes to their positions in FG. Hantz Financial Services Inc. lifted its stake in F&G Annuities & Life by 29,066.7% during the fourth quarter. Hantz Financial Services Inc. now owns 875 shares of the company’s stock worth $27,000 after purchasing an additional 872 shares during the last quarter. Ancora Advisors LLC bought a new position in F&G Annuities & Life in the second quarter valued at about $31,000. Quadrant Capital Group LLC raised its stake in F&G Annuities & Life by 36,166.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,088 shares of the company’s stock worth $34,000 after acquiring an additional 1,085 shares in the last quarter. Allworth Financial LP raised its stake in F&G Annuities & Life by 276.0% during the fourth quarter. Allworth Financial LP now owns 1,173 shares of the company’s stock worth $36,000 after acquiring an additional 861 shares in the last quarter. Finally, FIL Ltd bought a new position in shares of F&G Annuities & Life in the fourth quarter worth about $37,000. 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.