F&G Annuities & Life (NYSE:FG) Reaches New 52-Week High – Should You Buy?

Shares of F&G Annuities & Life, Inc. (NYSE:FG) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $49.00 and last traded at $48.71, with a volume of 10693 shares changing hands. The stock had previously closed at $47.10.

Analysts Set New Price Targets

Several research firms have commented on FG. Barclays increased their target price on shares of F&G Annuities & Life from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Piper Sandler increased their price objective on F&G Annuities & Life from $40.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd.

F&G Annuities & Life Trading Up 2.5 %

The company’s fifty day moving average is $43.49 and its 200-day moving average is $41.53. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $6.09 billion, a P/E ratio of -804.87 and a beta of 1.32.

F&G Annuities & Life (NYSE:FG) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.18 billion. F&G Annuities & Life had a net margin of 0.22% and a return on equity of 13.05%. During the same period in the prior year, the company earned $0.96 earnings per share. As a group, sell-side analysts anticipate that F&G Annuities & Life, Inc. will post 4.32 earnings per share for the current fiscal year.

F&G Annuities & Life Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a $0.22 dividend. This is an increase from F&G Annuities & Life’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 1.82%. The ex-dividend date is Tuesday, December 17th. F&G Annuities & Life’s payout ratio is currently -1,399.77%.

Hedge Funds Weigh In On F&G Annuities & Life

Several large investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its holdings in shares of 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 during the period. Vanguard Group Inc. increased its stake in F&G Annuities & Life by 1.1% during the first quarter. Vanguard Group Inc. now owns 1,878,492 shares of the company’s stock valued at $76,173,000 after acquiring an additional 21,253 shares during the period. Price T Rowe Associates Inc. MD increased its stake in F&G Annuities & Life by 18.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,371 shares of the company’s stock valued at $218,000 after acquiring an additional 819 shares during the period. Capital Advisors Wealth Management LLC lifted its position in shares of F&G Annuities & Life by 1.8% in the 2nd quarter. Capital Advisors Wealth Management LLC now owns 19,216 shares of the company’s stock worth $731,000 after acquiring an additional 344 shares during the period. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of F&G Annuities & Life by 723.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 2,923 shares of the company’s stock worth $111,000 after purchasing an additional 2,568 shares in the last quarter. 95.86% of the stock is currently owned by institutional investors and hedge funds.

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.