Wall Street Zen Upgrades F&G Annuities & Life (NYSE:FG) to “Buy”

F&G Annuities & Life (NYSE:FG) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also weighed in on the stock. Raymond James Financial started coverage on shares of F&G Annuities & Life in a research note on Wednesday, May 6th. They set a “market perform” rating on the stock. Barclays decreased their target price on F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Zacks Research raised F&G Annuities & Life to a “hold” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Wednesday. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.00.

F&G Annuities & Life Stock Up 1.8%

Shares of NYSE:FG opened at $26.98 on Friday. The company’s fifty day moving average is $27.73 and its two-hundred day moving average is $27.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.29 and a current ratio of 0.29. F&G Annuities & Life has a 1-year low of $20.57 and a 1-year high of $36.70. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 7.08 and a beta of 1.22.

F&G Annuities & Life (NYSE:FG) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.08). F&G Annuities & Life had a net margin of 8.89% and a return on equity of 10.73%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.46 billion. Equities analysts anticipate that F&G Annuities & Life will post 3.78 EPS for the current year.

F&G Annuities & Life declared that its board has approved a stock repurchase program on Monday, March 16th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of F&G Annuities & Life

Hedge funds have recently bought and sold shares of the company. Arete Wealth Advisors LLC acquired a new position in F&G Annuities & Life during the 1st quarter valued at about $324,000. Edgestream Partners L.P. increased its stake in shares of F&G Annuities & Life by 29.1% in the first quarter. Edgestream Partners L.P. now owns 191,759 shares of the company’s stock valued at $4,855,000 after purchasing an additional 43,264 shares during the period. California State Teachers Retirement System raised its holdings in shares of F&G Annuities & Life by 28.6% during the first quarter. California State Teachers Retirement System now owns 42,726 shares of the company’s stock valued at $1,082,000 after buying an additional 9,496 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of F&G Annuities & Life by 10.1% during the first quarter. The Manufacturers Life Insurance Company now owns 24,599 shares of the company’s stock valued at $623,000 after buying an additional 2,262 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of F&G Annuities & Life by 26.1% during the first quarter. Quantinno Capital Management LP now owns 38,633 shares of the company’s stock valued at $978,000 after buying an additional 7,989 shares during the last quarter. 95.86% of the stock is currently owned by institutional investors.

F&G Annuities & Life Company Profile

F&G Annuities & Life is the principal life insurance and annuity subsidiary of F&G Financial Group, Inc (NYSE: FG), a publicly traded financial services holding company headquartered in Des Moines, Iowa. The company focuses on designing and issuing retirement income solutions that address longevity risk, capital preservation, and wealth transfer for individual and institutional clients.

Its product suite includes fixed indexed annuities, which offer the potential for market-linked growth with downside protection; fixed-rate annuities, delivering guaranteed interest over a defined term; and a range of life insurance policies such as term, universal, and variable universal life.