Barclays Issues Positive Forecast for F&G Annuities & Life (NYSE:FG) Stock Price

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 increased by analysts at Barclays from $37.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's target price suggests a potential upside of 12.16% from the stock's current price.

Separately, Wall Street Zen raised F&G Annuities & Life from a "sell" rating to a "hold" rating in a report on Tuesday.

F&G Annuities & Life Price Performance

Shares of FG opened at $35.66 on Thursday. F&G Annuities & Life has a 52-week low of $30.01 and a 52-week high of $50.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.27 and a current ratio of 0.27. The business's 50 day moving average price is $31.84 and its two-hundred day moving average price is $36.08. The firm has a market cap of $4.81 billion, a PE ratio of 9.34 and a beta of 1.55.

F&G Annuities & Life (NYSE:FG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $1.35 billion. F&G Annuities & Life had a return on equity of 12.89% and a net margin of 9.90%. On average, equities analysts anticipate that F&G Annuities & Life will post 5.54 EPS for the current year.

Insider Buying and Selling at F&G Annuities & Life

In other news, CEO Christopher O. Blunt purchased 15,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were bought at an average cost of $30.78 per share, for a total transaction of $461,700.00. Following the completion of the purchase, the chief executive officer directly owned 889,964 shares of the company's stock, valued at approximately $27,393,091.92. This trade represents a 1.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders purchased 45,000 shares of company stock worth $1,399,900. Insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FG. Moors & Cabot Inc. lifted its holdings in shares of F&G Annuities & Life by 67.2% during the 2nd quarter. Moors & Cabot Inc. now owns 57,348 shares of the company's stock valued at $1,834,000 after acquiring an additional 23,058 shares in the last quarter. Bank of New York Mellon Corp increased its stake in F&G Annuities & Life by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 263,451 shares of the company's stock worth $8,425,000 after buying an additional 7,422 shares during the period. Y Intercept Hong Kong Ltd increased its stake in F&G Annuities & Life by 1,634.1% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 130,094 shares of the company's stock worth $4,160,000 after buying an additional 122,592 shares during the period. Envestnet Asset Management Inc. increased its stake in F&G Annuities & Life by 15.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 9,617 shares of the company's stock worth $308,000 after buying an additional 1,264 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in F&G Annuities & Life by 16.9% during the 2nd quarter. Bleakley Financial Group LLC now owns 13,192 shares of the company's stock worth $422,000 after buying an additional 1,910 shares during the period. 95.86% of the stock is owned by hedge funds and other institutional investors.

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.

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