Piper Sandler Trims F&G Annuities & Life (NYSE:FG) Target Price to $42.00

F&G Annuities & Life (NYSE:FG) had its target price reduced by Piper Sandler from $43.00 to $42.00 in a report issued on Friday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

F&G Annuities & Life Price Performance

Shares of NYSE FG opened at $38.03 on Friday. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 19.40 and a beta of 1.30. The business has a 50-day moving average of $39.44 and a 200-day moving average of $41.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.21 and a quick ratio of 0.21. F&G Annuities & Life has a fifty-two week low of $22.95 and a fifty-two week high of $48.71.

F&G Annuities & Life (NYSE:FG) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.03). The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.21 billion. F&G Annuities & Life had a net margin of 4.85% and a return on equity of 13.22%. As a group, sell-side analysts predict that F&G Annuities & Life will post 4.3 earnings per share for the current fiscal year.

F&G Annuities & Life Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, June 14th. F&G Annuities & Life’s payout ratio is 42.86%.

Hedge Funds Weigh In On F&G Annuities & Life

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in F&G Annuities & Life by 29.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 184,895 shares of the company’s stock worth $5,188,000 after purchasing an additional 42,340 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in F&G Annuities & Life by 436.6% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,481 shares of the company’s stock worth $42,000 after purchasing an additional 1,205 shares during the period. Trexquant Investment LP grew its holdings in F&G Annuities & Life by 121.6% during the third quarter. Trexquant Investment LP now owns 31,120 shares of the company’s stock worth $873,000 after purchasing an additional 17,079 shares during the period. Corton Capital Inc. bought a new position in F&G Annuities & Life during the third quarter worth about $202,000. Finally, Vanguard Group Inc. grew its holdings in F&G Annuities & Life by 41.5% during the third quarter. Vanguard Group Inc. now owns 1,457,972 shares of the company’s stock worth $40,911,000 after purchasing an additional 427,640 shares during the period. Institutional investors 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.