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

Barclays began coverage on shares of F&G Annuities & Life (NYSE:FG) in a report released on Wednesday, Marketbeat.com reports. The brokerage issued an equal weight rating and a $45.00 price target on the stock.

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

F&G Annuities & Life Trading Down 3.1 %

Shares of F&G Annuities & Life stock opened at $40.30 on Wednesday. The company’s fifty day moving average price is $41.21 and its two-hundred day moving average price is $39.78. The firm has a market capitalization of $5.08 billion, a PE ratio of 20.56 and a beta of 1.20. F&G Annuities & Life has a 52-week low of $26.12 and a 52-week high of $48.71. 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 (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.12. The firm 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, analysts expect that F&G Annuities & Life will post 4.47 EPS for the current year.

F&G Annuities & Life Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.21 dividend. The ex-dividend date 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 large investors have recently modified their holdings of FG. The Manufacturers Life Insurance Company raised its position in F&G Annuities & Life by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,088 shares of the company’s stock worth $574,000 after purchasing an additional 272 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of F&G Annuities & Life during the second quarter valued at $350,000. Denali Advisors LLC boosted its holdings in 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 last quarter. Dimensional Fund Advisors LP increased its position in F&G Annuities & Life by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 322,714 shares of the company’s stock worth $12,282,000 after purchasing an additional 64,669 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in F&G Annuities & Life during the 2nd quarter worth about $215,000. 95.86% of the stock is currently owned by institutional investors and hedge funds.

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.