Barclays Begins Coverage on F&G Annuities & Life (NYSE:FG)

Barclays started coverage on shares of F&G Annuities & Life (NYSE:FG) in a report published on Wednesday morning, Marketbeat reports. The firm issued an equal weight rating and a $45.00 price objective on the stock.

Separately, Piper Sandler dropped their price target on shares of F&G Annuities & Life from $43.00 to $42.00 and set a neutral rating for the company in a research report on Friday, June 28th.

F&G Annuities & Life Stock Performance

FG opened at $40.37 on Wednesday. The firm has a market cap of $5.09 billion, a P/E ratio of 20.60 and a beta of 1.20. F&G Annuities & Life has a 1-year low of $26.12 and a 1-year high of $48.71. The company has a 50 day simple moving average of $41.21 and a two-hundred day simple moving average of $39.81. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.24 and a quick ratio of 0.24.

F&G Annuities & Life (NYSE:FG) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.12. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.36 billion. F&G Annuities & Life had a net margin of 6.25% and a return on equity of 13.94%. Equities analysts forecast that F&G Annuities & Life will post 4.47 earnings per share for the current fiscal year.

F&G Annuities & Life Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.08%. F&G Annuities & Life’s dividend payout ratio is 42.86%.

Hedge Funds Weigh In On F&G Annuities & Life

A number of hedge funds and other institutional investors have recently modified their holdings of FG. Norges Bank bought a new position in shares of F&G Annuities & Life during the fourth quarter worth $8,203,000. American Century Companies Inc. raised its stake in F&G Annuities & Life by 218.2% during the second quarter. American Century Companies Inc. now owns 118,592 shares of the company’s stock valued at $4,512,000 after purchasing an additional 81,328 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in F&G Annuities & Life by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 322,714 shares of the company’s stock valued at $12,282,000 after purchasing an additional 64,669 shares in the last quarter. Vanguard Group Inc. raised its stake in F&G Annuities & Life by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,878,492 shares of the company’s stock valued at $76,173,000 after purchasing an additional 21,253 shares in the last quarter. Finally, Van Hulzen Asset Management LLC purchased a new stake in F&G Annuities & Life during the fourth quarter valued at $939,000. Institutional investors own 95.86% of the company’s stock.

About F&G Annuities & Life

F&G Annuities & Life, Inc provides fixed annuities and life insurance products in the United States. The company portfolio includes fixed indexed annuities, multi-year guarantee annuities, and pension risk transfer solution, as well as indexed universal life insurance, institutional funding agreements, and index-linked annuities.