Barclays Forecasts Strong Price Appreciation for F&G Annuities & Life (NYSE:FG) Stock

Key Points

• Barclays raised the price target for F&G Annuities & Life stock from $37.00 to $40.00, indicating a potential upside of 12.16% from its current price.
• F&G Annuities & Life's recent earnings report showed an EPS of $0.77, surpassing analysts' expectations of $0.64, with revenues reaching $2.74 billion.
• Insider trading activity includes CEO Christopher O. Blunt purchasing 15,000 shares at an average cost of $30.78 per share, totaling approximately $461,700.

F&G Annuities & Life (NYSE:FG - Get Free Report) had its price objective raised by research analysts at Barclays from $37.00 to $40.00 in a report released on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's target price would indicate a potential upside of 15.52% from the stock's current price.

Separately, Wall Street Zen upgraded shares of F&G Annuities & Life from a "sell" rating to a "hold" rating in a research note on Tuesday, August 5th.

F&G Annuities & Life Stock Performance

Shares of FG traded up $0.65 during mid-day trading on Thursday, hitting $34.63. 58,715 shares of the company's stock were exchanged, compared to its average volume of 231,146. F&G Annuities & Life has a 52 week low of $30.01 and a 52 week high of $50.75. The stock's 50-day simple moving average is $31.92 and its 200-day simple moving average is $35.84. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 13.96 and a beta of 1.55. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.50.

F&G Annuities & Life (NYSE:FG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. F&G Annuities & Life had a net margin of 6.45% and a return on equity of 11.65%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $1.35 billion. On average, equities research analysts expect that F&G Annuities & Life will post 5.54 EPS for the current year.

Insider Activity at F&G Annuities & Life

In other news, CEO Christopher O. Blunt purchased 15,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were acquired at an average cost of $30.78 per share, for a total transaction of $461,700.00. Following the acquisition, the chief executive officer owned 889,964 shares of the company's stock, valued at approximately $27,393,091.92. This represents a 1.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On F&G Annuities & Life

Institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new stake in F&G Annuities & Life during the 4th quarter worth $141,000. JPMorgan Chase & Co. raised its holdings in F&G Annuities & Life by 83.9% in the 4th quarter. JPMorgan Chase & Co. now owns 84,528 shares of the company's stock valued at $3,503,000 after buying an additional 38,576 shares during the period. Wells Fargo & Company MN raised its holdings in F&G Annuities & Life by 8.7% in the 4th quarter. Wells Fargo & Company MN now owns 28,108 shares of the company's stock valued at $1,165,000 after buying an additional 2,256 shares during the period. Federated Hermes Inc. raised its holdings in F&G Annuities & Life by 476.6% in the 4th quarter. Federated Hermes Inc. now owns 888 shares of the company's stock valued at $37,000 after buying an additional 734 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in F&G Annuities & Life by 4.3% in the 4th quarter. Renaissance Technologies LLC now owns 50,500 shares of the company's stock valued at $2,093,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 95.86% of the company's stock.

F&G Annuities & Life Company Profile

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.