F&G Annuities & Life (NYSE:FG) Trading 17.3% Higher – Still a Buy?

F&G Annuities & Life, Inc. (NYSE:FG)’s share price traded up 17.3% on Wednesday . The stock traded as high as $47.93 and last traded at $47.74. 75,786 shares traded hands 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 Analyst Weigh In

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

F&G Annuities & Life Stock Performance

The stock has a market cap of $5.96 billion, a P/E ratio of 18.62 and a beta of 1.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.24 and a quick ratio of 0.24. The stock has a 50-day simple moving average of $42.43 and a 200-day simple moving average of $40.90.

F&G Annuities & Life (NYSE:FG) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.12. The company had revenue of $1.17 billion for 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%. Research analysts forecast that F&G Annuities & Life, Inc. will post 4.32 earnings per share for the current year.

Institutional Investors Weigh In On F&G Annuities & Life

Several hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its position in F&G Annuities & Life by 34.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 7,580 shares of the company’s stock valued at $339,000 after purchasing an additional 1,937 shares during the last quarter. GSA Capital Partners LLP bought a new position in F&G Annuities & Life in the 3rd quarter valued at approximately $231,000. Principal Financial Group Inc. boosted its position in F&G Annuities & Life by 23.1% during the 3rd quarter. Principal Financial Group Inc. now owns 120,336 shares of the company’s stock worth $5,381,000 after buying an additional 22,550 shares during the period. Crescent Grove Advisors LLC boosted its position in F&G Annuities & Life by 21.2% during the 3rd quarter. Crescent Grove Advisors LLC now owns 24,837 shares of the company’s stock worth $1,111,000 after buying an additional 4,341 shares during the period. Finally, Arthur M. Cohen & Associates LLC grew its holdings in 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 worth $1,468,000 after acquiring an additional 725 shares during the last quarter. Institutional investors and hedge funds 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.