F&G Annuities & Life (NYSE:FG) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research has upgraded F&G Annuities & Life from a "strong sell" to a "hold" rating, reflecting a positive shift in market sentiment towards the stock.
• Barclays raised its price target for F&G Annuities & Life from $37.00 to $40.00, while the stock has an average target price of $44.33 among analysts.
• F&G Annuities & Life reported $0.77 earnings per share for the last quarter, exceeding analysts' estimates of $0.64, with significant revenue of $2.74 billion.

Zacks Research upgraded shares of F&G Annuities & Life (NYSE:FG - Free Report) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

FG has been the topic of a number of other research reports. Barclays boosted their target price on F&G Annuities & Life from $37.00 to $40.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Wall Street Zen upgraded F&G Annuities & Life from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $44.33.

F&G Annuities & Life Trading Down 2.4%

F&G Annuities & Life stock traded down $0.84 during midday trading on Monday, reaching $34.47. 163,355 shares of the stock traded hands, compared to its average volume of 149,489. The company has a 50-day simple moving average of $32.93 and a two-hundred day simple moving average of $34.40. F&G Annuities & Life has a 12-month low of $30.01 and a 12-month high of $50.75. The firm has a market cap of $4.64 billion, a PE ratio of 13.90 and a beta of 1.55. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.49.

F&G Annuities & Life (NYSE:FG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. F&G Annuities & Life had a return on equity of 11.51% and a net margin of 6.45%.The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $1.35 billion. Research analysts expect that F&G Annuities & Life will post 5.54 earnings per share for the current fiscal year.

F&G Annuities & Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 2.6%. F&G Annuities & Life's dividend payout ratio is presently 35.48%.

Institutional Trading of F&G Annuities & Life

Several large investors have recently added to or reduced their stakes in the business. Fidelity National Financial Inc. increased its position in F&G Annuities & Life by 4.2% in the 1st quarter. Fidelity National Financial Inc. now owns 110,942,551 shares of the company's stock valued at $3,999,479,000 after acquiring an additional 4,500,000 shares during the period. Vanguard Group Inc. boosted its position in shares of F&G Annuities & Life by 8.9% in the first quarter. Vanguard Group Inc. now owns 2,029,913 shares of the company's stock worth $73,178,000 after buying an additional 165,489 shares during the period. Geode Capital Management LLC boosted its position in shares of F&G Annuities & Life by 12.6% in the second quarter. Geode Capital Management LLC now owns 509,212 shares of the company's stock worth $16,286,000 after buying an additional 57,032 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of F&G Annuities & Life by 11.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 413,202 shares of the company's stock worth $17,123,000 after acquiring an additional 42,081 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of F&G Annuities & Life by 23.4% during the second quarter. American Century Companies Inc. now owns 365,343 shares of the company's stock worth $11,684,000 after acquiring an additional 69,242 shares in the last quarter. 95.86% of the stock is currently owned by institutional investors and hedge funds.

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.