Barclays Issues Pessimistic Forecast for F&G Annuities & Life (NYSE:FG) Stock Price

F&G Annuities & Life (NYSE:FG) had its price target lowered by stock analysts at Barclays from $31.00 to $27.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 7.80% from the stock’s current price.

Several other brokerages have also weighed in on FG. Wall Street Zen upgraded shares of F&G Annuities & Life from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Zacks Research lowered shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, F&G Annuities & Life has an average rating of “Reduce” and a consensus target price of $30.00.

F&G Annuities & Life Stock Performance

Shares of NYSE FG opened at $25.05 on Wednesday. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 13.69 and a beta of 1.28. F&G Annuities & Life has a one year low of $20.57 and a one year high of $36.70. The business has a fifty day simple moving average of $25.12 and a 200 day simple moving average of $28.78. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.45.

F&G Annuities & Life (NYSE:FG) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.43). F&G Annuities & Life had a return on equity of 10.48% and a net margin of 4.62%.The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $1.55 billion. Sell-side analysts expect that F&G Annuities & Life will post 5.54 EPS for the current year.

F&G Annuities & Life declared that its Board of Directors has initiated a share buyback plan on Monday, March 16th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at F&G Annuities & Life

In other news, Director Celina J. Wang Doka bought 4,760 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $20.98 per share, with a total value of $99,864.80. Following the acquisition, the director owned 32,071 shares in the company, valued at $672,849.58. This trade represents a 17.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher O. Blunt bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $20.99 per share, with a total value of $209,900.00. Following the transaction, the chief executive officer directly owned 1,107,128 shares in the company, valued at $23,238,616.72. This represents a 0.91% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.10% of the stock is currently owned by insiders.

Institutional Trading of F&G Annuities & Life

Several hedge funds have recently modified their holdings of FG. Elevated Capital Advisors LLC bought a new position in shares of F&G Annuities & Life in the fourth quarter valued at approximately $27,000. Hantz Financial Services Inc. grew its position in F&G Annuities & Life by 29,066.7% during the 4th quarter. Hantz Financial Services Inc. now owns 875 shares of the company’s stock worth $27,000 after acquiring an additional 872 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in F&G Annuities & Life by 474.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 902 shares of the company’s stock worth $28,000 after acquiring an additional 745 shares during the last quarter. GAMMA Investing LLC increased its holdings in F&G Annuities & Life by 432.6% during the 4th quarter. GAMMA Investing LLC now owns 932 shares of the company’s stock valued at $29,000 after purchasing an additional 757 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in F&G Annuities & Life by 36,166.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,088 shares of the company’s stock valued at $34,000 after purchasing an additional 1,085 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 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.