F&G Annuities & Life (NYSE:FG) Shares Gap Up Following Strong Earnings

F&G Annuities & Life, Inc. (NYSE:FG) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $29.87, but opened at $31.62. F&G Annuities & Life shares last traded at $29.9940, with a volume of 89,436 shares trading hands.

The company reported $1.45 earnings per share for the quarter. The business had revenue of $496.00 million for the quarter. F&G Annuities & Life had a net margin of 6.45% and a return on equity of 11.51%.

Wall Street Analyst Weigh In

Several analysts have recently commented on FG shares. Wall Street Zen raised F&G Annuities & Life from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Piper Sandler set a $33.00 target price on F&G Annuities & Life in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of F&G Annuities & Life in a report on Tuesday, October 14th. Barclays decreased their price target on shares of F&G Annuities & Life from $40.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Finally, Zacks Research upgraded F&G Annuities & Life from a “strong sell” rating to a “hold” rating in a research note on Monday, September 1st. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, F&G Annuities & Life presently has a consensus rating of “Hold” and an average price target of $38.33.

Insider Activity at F&G Annuities & Life

In related news, EVP Leena Punjabi sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $33.81, for a total value of $101,430.00. Following the completion of the sale, the executive vice president owned 64,064 shares of the company’s stock, valued at $2,166,003.84. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On F&G Annuities & Life

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of F&G Annuities & Life by 1.1% during the first quarter. Principal Financial Group Inc. now owns 126,955 shares of the company’s stock valued at $4,577,000 after acquiring an additional 1,373 shares during the period. Iron Horse Wealth Management LLC lifted its position in F&G Annuities & Life by 9.5% during the 1st quarter. Iron Horse Wealth Management LLC now owns 4,679 shares of the company’s stock valued at $169,000 after purchasing an additional 404 shares during the period. Bleakley Financial Group LLC lifted its position in F&G Annuities & Life by 2.7% during the 1st quarter. Bleakley Financial Group LLC now owns 11,282 shares of the company’s stock valued at $407,000 after purchasing an additional 293 shares during the period. Denali Advisors LLC boosted its stake in shares of F&G Annuities & Life by 2.9% in the 1st quarter. Denali Advisors LLC now owns 12,864 shares of the company’s stock valued at $464,000 after purchasing an additional 364 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of F&G Annuities & Life during the 1st quarter worth approximately $270,000. Institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Stock Performance

The stock’s 50 day moving average is $31.52 and its two-hundred day moving average is $32.28. The firm has a market capitalization of $4.02 billion, a P/E ratio of 12.06 and a beta of 1.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.26 and a quick ratio of 0.26.

F&G Annuities & Life Company Profile

F&G Annuities & Life, Inc engages in the provision of fixed annuity and life insurance products. It specializes in life insurance, annuities, retirement planning and wealth transfer. The company was founded in 1959 and is headquartered in Des Moines, IA.