F&G Annuities & Life (NYSE:FG) Stock Rating Upgraded by Wall Street Zen

Key Points

• F&G Annuities & Life has been upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen, indicating growing investor confidence.
• Barclays has raised its price target for the company from $37.00 to $40.00, signaling positive expectations about its stock performance.
• The company reported earnings of $0.77 per share for the last quarter, beating estimates significantly and showcasing strong financial performance.

F&G Annuities & Life (NYSE:FG - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Wednesday.

Separately, Barclays boosted their price target on F&G Annuities & Life from $37.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th.

F&G Annuities & Life Stock Down 2.6%

F&G Annuities & Life stock traded down $0.92 during midday trading on Wednesday, hitting $34.41. 131,987 shares of the company were exchanged, compared to its average volume of 229,999. The company's fifty day moving average price is $32.13 and its 200-day moving average price is $35.71. The company has a market cap of $4.63 billion, a PE ratio of 13.88 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.26 and a quick ratio of 0.27. F&G Annuities & Life has a fifty-two week low of $30.01 and a fifty-two week high of $50.75.

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, topping the consensus estimate of $0.64 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $1.35 billion. F&G Annuities & Life had a return on equity of 11.51% and a net margin of 6.45%. On average, research analysts predict that F&G Annuities & Life will post 5.54 EPS for the current fiscal year.

Institutional Investors Weigh In On F&G Annuities & Life

Hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. lifted its stake in F&G Annuities & Life by 476.6% in the 4th quarter. Federated Hermes Inc. now owns 888 shares of the company's stock worth $37,000 after acquiring an additional 734 shares in the last quarter. Quarry LP purchased a new stake in F&G Annuities & Life in the 1st quarter worth about $44,000. Ameritas Investment Partners Inc. lifted its stake in F&G Annuities & Life by 18.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,174 shares of the company's stock worth $70,000 after acquiring an additional 337 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in F&G Annuities & Life in the 1st quarter worth about $89,000. Finally, State of Wyoming acquired a new position in F&G Annuities & Life in the 1st quarter worth about $96,000. 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.