F&G Annuities & Life (NYSE:FG) Trading 17.3% Higher – Here’s Why

Shares of F&G Annuities & Life, Inc. (NYSE:FG) traded up 17.3% during mid-day trading on Wednesday . The stock traded as high as $47.93 and last traded at $47.74. 75,786 shares were traded during mid-day trading, a decline of 14% from the average session volume of 88,249 shares. The stock had previously closed at $40.71.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FG shares. Barclays decreased their price target on F&G Annuities & Life from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Piper Sandler upped their target price on F&G Annuities & Life from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd.

F&G Annuities & Life Stock Performance

The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $5.96 billion, a P/E ratio of 18.62 and a beta of 1.32. The company’s 50 day moving average is $42.43 and its 200-day moving average is $40.90.

F&G Annuities & Life (NYSE:FG) last issued its earnings results on Monday, August 5th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.98 by $0.12. F&G Annuities & Life had a return on equity of 13.94% and a net margin of 6.25%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities analysts anticipate that F&G Annuities & Life, Inc. will post 4.32 EPS for the current year.

Institutional Trading of F&G Annuities & Life

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. lifted its stake in F&G Annuities & Life by 34.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,580 shares of the company’s stock valued at $339,000 after acquiring an additional 1,937 shares in the last quarter. GSA Capital Partners LLP purchased a new position in F&G Annuities & Life in the third quarter worth $231,000. Principal Financial Group Inc. grew its stake in F&G Annuities & Life by 23.1% in the 3rd quarter. Principal Financial Group Inc. now owns 120,336 shares of the company’s stock valued at $5,381,000 after purchasing an additional 22,550 shares during the period. Crescent Grove Advisors LLC grew its stake in F&G Annuities & Life by 21.2% in the 3rd quarter. Crescent Grove Advisors LLC now owns 24,837 shares of the company’s stock valued at $1,111,000 after purchasing an additional 4,341 shares during the period. Finally, Arthur M. Cohen & Associates LLC increased its position in shares of F&G Annuities & Life by 2.1% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 34,815 shares of the company’s stock valued at $1,468,000 after purchasing an additional 725 shares during the last quarter. Institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Company Profile

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.