F&G Annuities & Life (NYSE:FG) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

F&G Annuities & Life (NYSE:FG) released its earnings results on Wednesday. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.13), FiscalAI reports. F&G Annuities & Life had a return on equity of 10.73% and a net margin of 8.89%.The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.49 billion.

F&G Annuities & Life Stock Down 1.9%

NYSE:FG traded down $0.56 during mid-day trading on Thursday, hitting $29.09. The company had a trading volume of 620,817 shares, compared to its average volume of 750,332. The business has a fifty day simple moving average of $28.56 and a 200-day simple moving average of $27.10. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.47. F&G Annuities & Life has a 1 year low of $20.57 and a 1 year high of $36.70. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 7.63 and a beta of 1.20.

Analyst Upgrades and Downgrades

FG has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Wednesday, June 24th. Raymond James Financial began coverage on shares of F&G Annuities & Life in a report on Wednesday, May 6th. They issued a “market perform” rating on the stock. Barclays lowered their price objective on shares of F&G Annuities & Life from $31.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Zacks Research upgraded F&G Annuities & Life to a “hold” rating in a report on Thursday, May 7th. Finally, Wall Street Zen lowered F&G Annuities & Life from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.00.

Institutional Investors Weigh In On F&G Annuities & Life

Institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC grew its stake in shares of F&G Annuities & Life by 40.3% in the fourth quarter. Corient Private Wealth LLC now owns 9,028 shares of the company’s stock valued at $279,000 after buying an additional 2,593 shares in the last quarter. Invesco Ltd. lifted its position in F&G Annuities & Life by 53.4% during the 4th quarter. Invesco Ltd. now owns 62,804 shares of the company’s stock worth $1,938,000 after acquiring an additional 21,866 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in F&G Annuities & Life in the 4th quarter worth approximately $321,000. JCP Investment Management LLC purchased a new position in F&G Annuities & Life in the 4th quarter worth approximately $632,000. Finally, State of Tennessee Department of Treasury acquired a new stake in F&G Annuities & Life in the fourth quarter valued at approximately $179,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Company Profile

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.