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

F&G Annuities & Life (NYSE:FG) released its quarterly earnings data on Thursday. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.20, FiscalAI reports. The firm had revenue of $737.00 million during the quarter, compared to analyst estimates of $1.40 billion. F&G Annuities & Life had a return on equity of 11.78% and a net margin of 8.40%.

F&G Annuities & Life Stock Up 3.0%

Shares of FG traded up $0.91 on Friday, hitting $30.78. 324,527 shares of the stock traded hands, compared to its average volume of 152,658. F&G Annuities & Life has a one year low of $28.70 and a one year high of $50.75. The company has a market capitalization of $4.14 billion, a PE ratio of 9.03 and a beta of 1.48. The business has a 50 day simple moving average of $31.45 and a 200 day simple moving average of $32.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.26 and a current ratio of 0.26.

F&G Annuities & Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a dividend of $0.25 per share. 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. F&G Annuities & Life’s dividend payout ratio is currently 35.48%.

Insider Transactions at F&G Annuities & Life

In other F&G Annuities & Life news, EVP Leena Punjabi sold 3,000 shares of F&G Annuities & Life stock in a transaction 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 sale, the executive vice president owned 64,064 shares of the company’s stock, valued at approximately $2,166,003.84. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On F&G Annuities & Life

Several institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its position in F&G Annuities & Life by 330.8% in the 1st quarter. Millennium Management LLC now owns 217,306 shares of the company’s stock worth $7,834,000 after buying an additional 166,863 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of F&G Annuities & Life in the second quarter worth approximately $1,413,000. JPMorgan Chase & Co. raised its holdings in shares of F&G Annuities & Life by 63.8% during the third quarter. JPMorgan Chase & Co. now owns 65,847 shares of the company’s stock valued at $2,059,000 after purchasing an additional 25,644 shares during the last quarter. Caxton Associates LLP bought a new position in F&G Annuities & Life during the second quarter valued at approximately $485,000. Finally, AQR Capital Management LLC purchased a new stake in F&G Annuities & Life in the first quarter worth approximately $521,000. 95.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FG. Zacks Research upgraded shares of F&G Annuities & Life from a “strong sell” rating to a “hold” rating in a report on Monday, September 1st. Barclays cut their price objective on F&G Annuities & Life from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Wall Street Zen upgraded F&G Annuities & Life from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of F&G Annuities & Life in a research report on Tuesday, October 14th. Finally, Piper Sandler set a $33.00 price target on shares of F&G Annuities & Life in a research report on Tuesday, October 7th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, F&G Annuities & Life currently has an average rating of “Hold” and an average price target of $38.33.

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.