F&G Annuities & Life (NYSE:FG) Price Target Lowered to $27.00 at Barclays

F&G Annuities & Life (NYSE:FG) had its price target dropped by equities researchers at Barclays from $31.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 8.13% from the company’s previous close.

Several other research firms also recently weighed in on FG. Zacks Research downgraded shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of F&G Annuities & Life from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $30.00.

F&G Annuities & Life Stock Performance

Shares of NYSE FG traded up $0.37 during midday trading on Wednesday, hitting $24.97. 163,947 shares of the company’s stock were exchanged, compared to its average volume of 749,147. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.26 and a quick ratio of 0.26. The stock’s 50 day moving average price is $25.28 and its 200-day moving average price is $28.83. The firm has a market cap of $3.39 billion, a P/E ratio of 13.64 and a beta of 1.28. F&G Annuities & Life has a twelve month low of $20.57 and a twelve month high of $37.01.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.43). The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $1.55 billion. F&G Annuities & Life had a return on equity of 10.48% and a net margin of 4.62%. Equities research analysts anticipate that F&G Annuities & Life will post 5.54 EPS for the current year.

F&G Annuities & Life announced that its Board of Directors has authorized a share buyback plan on Monday, March 16th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Transactions at F&G Annuities & Life

In other F&G Annuities & Life news, Director Celina J. Wang Doka purchased 4,760 shares of the business’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $20.98 per share, with a total value of $99,864.80. Following the acquisition, the director owned 32,071 shares of the company’s stock, valued at $672,849.58. The trade was a 17.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher O. Blunt purchased 10,000 shares of the business’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $20.99 per share, with a total value of $209,900.00. Following the completion of the acquisition, the chief executive officer directly owned 1,107,128 shares in the company, valued at $23,238,616.72. The trade was a 0.91% increase in their position. The SEC filing for this purchase provides additional information. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of F&G Annuities & Life

A number of hedge funds have recently bought and sold shares of FG. Vanguard Group Inc. lifted its stake in F&G Annuities & Life by 85.4% during the fourth quarter. Vanguard Group Inc. now owns 3,807,765 shares of the company’s stock valued at $117,470,000 after buying an additional 1,753,709 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of F&G Annuities & Life by 870.1% in the third quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock valued at $20,085,000 after purchasing an additional 576,102 shares in the last quarter. Norges Bank purchased a new stake in shares of F&G Annuities & Life in the fourth quarter valued at $14,568,000. State Street Corp lifted its holdings in shares of F&G Annuities & Life by 93.6% in the fourth quarter. State Street Corp now owns 847,443 shares of the company’s stock valued at $26,144,000 after purchasing an additional 409,743 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of F&G Annuities & Life by 445.3% in the fourth quarter. AQR Capital Management LLC now owns 465,295 shares of the company’s stock valued at $14,354,000 after purchasing an additional 379,970 shares in the last quarter. 95.86% of the stock is owned by hedge funds and other institutional investors.

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.