F&G Annuities & Life (NYSE:FG) Announces Earnings Results, Beats Expectations By $0.20 EPS

F&G Annuities & Life (NYSE:FG) announced its earnings results on Thursday. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.02 by $0.20, FiscalAI reports. F&G Annuities & Life had a net margin of 8.40% and a return on equity of 11.78%. The firm had revenue of $737.00 million for the quarter, compared to the consensus estimate of $1.40 billion.

F&G Annuities & Life Stock Up 3.0%

Shares of NYSE:FG traded up $0.91 during midday trading on Friday, reaching $30.78. The company had a trading volume of 324,527 shares, compared to its average volume of 152,658. F&G Annuities & Life has a 1-year low of $28.70 and a 1-year high of $50.75. The stock has a market cap of $4.14 billion, a PE ratio of 9.03 and a beta of 1.48. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average price is $31.45 and its 200 day moving average price is $32.27.

F&G Annuities & Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, December 17th. This is a positive change from F&G Annuities & Life’s previous quarterly dividend of $0.22. F&G Annuities & Life’s dividend payout ratio is 35.48%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other F&G Annuities & Life news, EVP Leena Punjabi sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $33.81, for a total value of $101,430.00. Following the completion of the transaction, the executive vice president directly owned 64,064 shares in the company, valued at $2,166,003.84. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On F&G Annuities & Life

A number of institutional investors and hedge funds have recently made changes to their positions in FG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of F&G Annuities & Life by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,035 shares of the company’s stock valued at $398,000 after buying an additional 452 shares during the last quarter. Quantbot Technologies LP raised its position in F&G Annuities & Life by 13.7% during the second quarter. Quantbot Technologies LP now owns 7,258 shares of the company’s stock worth $232,000 after acquiring an additional 877 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in F&G Annuities & Life by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 51,079 shares of the company’s stock worth $1,841,000 after acquiring an additional 1,023 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in F&G Annuities & Life in the first quarter valued at $89,000. Finally, Rhumbline Advisers lifted its stake in F&G Annuities & Life by 14.4% in the second quarter. Rhumbline Advisers now owns 32,500 shares of the company’s stock valued at $1,039,000 after acquiring an additional 4,080 shares during the last quarter. Institutional investors own 95.86% of the company’s stock.

About F&G Annuities & Life

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.