Piper Sandler Raises F&G Annuities & Life (NYSE:FG) Price Target to $46.00

F&G Annuities & Life (NYSE:FG) had its price target raised by Piper Sandler from $40.00 to $46.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Barclays assumed coverage on F&G Annuities & Life in a research note on Wednesday, September 4th. They issued an equal weight rating and a $45.00 target price on the stock.

F&G Annuities & Life Stock Performance

NYSE FG opened at $43.28 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.24 and a current ratio of 0.24. The company has a market capitalization of $5.46 billion, a PE ratio of 22.08 and a beta of 1.20. F&G Annuities & Life has a 52-week low of $27.00 and a 52-week high of $48.71. The company has a 50-day simple moving average of $41.50 and a 200 day simple moving average of $40.31.

F&G Annuities & Life (NYSE:FG) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.12. The company 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%. On average, research analysts predict that F&G Annuities & Life will post 4.32 EPS for the current year.

F&G Annuities & Life Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Monday, September 16th. F&G Annuities & Life’s dividend payout ratio (DPR) is currently 42.86%.

Institutional Trading of F&G Annuities & Life

A number of institutional investors have recently modified their holdings of FG. State Board of Administration of Florida Retirement System lifted its holdings in F&G Annuities & Life by 258.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 19,270 shares of the company’s stock worth $781,000 after purchasing an additional 13,890 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of F&G Annuities & Life by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,878,492 shares of the company’s stock worth $76,173,000 after buying an additional 21,253 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of F&G Annuities & Life in the first quarter worth about $510,000. Denali Advisors LLC boosted its position in shares of F&G Annuities & Life by 14,687.8% in the second quarter. Denali Advisors LLC now owns 17,006 shares of the company’s stock valued at $647,000 after acquiring an additional 16,891 shares during the period. Finally, American Century Companies Inc. grew 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 acquiring an additional 81,328 shares in the last quarter. 95.86% of the stock is currently owned by hedge funds and other institutional investors.

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.