F&G Annuities & Life, Inc. Sees Significant Spike in Short Interest

F&G Annuities & Life, Inc. (NYSE:FG) experienced a notable rise in short interest during the month of January. As of January 31st, the short interest reached a total of 340,200 shares, marking a 5.4% increase from the prior total of 322,900 shares recorded on January 15th. Currently, around 0.3% of the company’s outstanding shares are being sold short. With an average daily trading volume of 63,800 shares, the current short-interest ratio stands at 5.3 days.

Stock Performance Overview

On Monday, shares of F&G Annuities & Life traded up by 1.2%, increasing by $0.58 to reach a price of $47.01. The trading volume for the day was 55,140 shares, which is slightly below the average volume of 60,846 shares. The company's stock has a 50-day simple moving average of $43.37 and a two-hundred day simple moving average of $43.13. Over the past year, the stock hit a low of $34.90 and a high of $50.75. Additionally, F&G Annuities & Life has a current ratio of 0.25, a quick ratio of 0.25, and a debt-to-equity ratio of 0.46. The market capitalization of the company is approximately $5.93 billion, with a price-to-earnings ratio of -783.34 and a beta of 1.66.

Hedge Fund Investments

Recently, hedge funds have made strategic adjustments to their investments in F&G Annuities & Life. During the third quarter, Blue Trust Inc. significantly increased its stake in the company by 1,386.8%, acquiring a total of 565 shares now valued at $25,000 after adding 527 shares. In the fourth quarter, Federated Hermes Inc. increased its holdings by 476.6%, now owning 888 shares worth $37,000 after purchasing an additional 734 shares. BNP Paribas Financial Markets has also entered the scene by acquiring a new position worth about $114,000. Moreover, AlphaQuest LLC saw a dramatic increase of 314,200.0% in shares during the same quarter, now holding 3,143 shares valued at $130,000 after purchasing a substantial number. KLP Kapitalforvaltning AS similarly established a position valued at approximately $141,000. It is noteworthy that institutional investors and hedge funds collectively own 95.86% of the company's stock.

Analysts' Price Targets

In addition, analysts have been making updates regarding their target prices for F&G Annuities & Life. Recently, Barclays adjusted its target price for the stock, raising it from $46.00 to $47.00 and assigned an "equal weight" rating in a report published on January 6th.

Company Overview

Founded in 1959 and headquartered in Des Moines, Iowa, F&G Annuities & Life, Inc. specializes in providing a range of fixed annuity and life insurance products. The company focuses on areas such as life insurance, retirement planning, and wealth transfer.

Conclusion

The notable increase in short interest, along with recent developments amongst hedge funds and analytical re-evaluations, indicates changing dynamics in the market performance of F&G Annuities & Life. Investors and stakeholders will be keen to observe how these trends impact the overall strategy and performance of the company moving forward.

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