Piper Sandler Boosts F&G Annuities & Life (NYSE:FG) Price Target to $46.00

F&G Annuities & Life (NYSE:FG) had its target price upped by equities researchers at Piper Sandler from $40.00 to $46.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 8.59% from the stock’s current price.

Separately, Barclays began coverage on F&G Annuities & Life in a report on Wednesday, September 4th. They set an “equal weight” rating and a $45.00 price objective for the company.

F&G Annuities & Life Price Performance

FG opened at $42.36 on Wednesday. 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 market capitalization of $5.34 billion, a P/E ratio of 21.61 and a beta of 1.20. The company’s 50 day simple moving average is $41.53 and its 200-day simple moving average is $40.30. F&G Annuities & Life has a one year low of $26.12 and a one year high of $48.71.

F&G Annuities & Life (NYSE:FG) last announced its quarterly earnings data on Monday, August 5th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.36 billion. F&G Annuities & Life had a return on equity of 13.94% and a net margin of 6.25%. Sell-side analysts anticipate that F&G Annuities & Life will post 4.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FG. Vanguard Group Inc. grew its holdings 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 purchasing an additional 21,253 shares during the period. Dimensional Fund Advisors LP grew its position in shares of F&G Annuities & Life by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 322,714 shares of the company’s stock valued at $12,282,000 after purchasing an additional 64,669 shares during the period. Bank of New York Mellon Corp increased its position in shares of F&G Annuities & Life by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 250,314 shares of the company’s stock worth $9,524,000 after acquiring an additional 3,331 shares in the last quarter. Norges Bank bought a new position in F&G Annuities & Life during the 4th quarter worth about $8,203,000. Finally, American Century Companies Inc. raised its stake in shares of F&G Annuities & Life by 218.2% in the 2nd quarter. American Century Companies Inc. now owns 118,592 shares of the company’s stock valued at $4,512,000 after purchasing an additional 81,328 shares during the period. 95.86% of the stock is currently owned by institutional investors.

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.