F&G Annuities & Life (NYSE:FG) Rating Increased 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 research note released on Saturday morning.

A number of other brokerages also recently commented on FG. Zacks Research raised F&G Annuities & Life from a “strong sell” rating to a “hold” rating in a research report on Monday, September 1st. Barclays lowered their price target on F&G Annuities & Life from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Piper Sandler set a $33.00 price objective on shares of F&G Annuities & Life in a research note on Tuesday, October 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of F&G Annuities & Life in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.33.

F&G Annuities & Life Stock Performance

NYSE:FG opened at $29.71 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market cap of $4.00 billion, a PE ratio of 11.98 and a beta of 1.49. The firm has a 50 day simple moving average of $31.92 and a 200-day simple moving average of $32.41. F&G Annuities & Life has a 1-year low of $28.70 and a 1-year high of $50.75.

F&G Annuities & Life (NYSE:FG) last announced its earnings results on Tuesday, October 3rd. The company reported $1.45 earnings per share (EPS) for the quarter. The firm had revenue of $496.00 million for the quarter. F&G Annuities & Life had a net margin of 6.45% and a return on equity of 11.51%. On average, equities analysts expect that F&G Annuities & Life will post 5.54 EPS for the current year.

F&G Annuities & Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 16th. F&G Annuities & Life’s payout ratio is currently 35.48%.

Insider Activity

In related news, EVP Leena Punjabi sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $33.81, for a total transaction of $101,430.00. Following the completion of the sale, the executive vice president owned 64,064 shares of the company’s stock, valued at approximately $2,166,003.84. This represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fidelity National Financial Inc. increased its position in shares of F&G Annuities & Life by 4.2% in the first quarter. Fidelity National Financial Inc. now owns 110,942,551 shares of the company’s stock worth $3,999,479,000 after acquiring an additional 4,500,000 shares in the last quarter. Norges Bank purchased a new stake in F&G Annuities & Life during the 2nd quarter worth $8,503,000. Seven Grand Managers LLC acquired a new stake in F&G Annuities & Life in the 1st quarter valued at $9,012,000. Interval Partners LP purchased a new position in F&G Annuities & Life in the first quarter valued at about $8,639,000. Finally, Nuveen LLC purchased a new position in F&G Annuities & Life in the first quarter valued at about $7,016,000. 95.86% of the stock is owned by institutional investors and hedge funds.

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.