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

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

F&G Annuities & Life Price Performance

F&G Annuities & Life stock traded down $0.02 during mid-day trading on Wednesday, hitting $29.65. 486,627 shares of the company traded hands, compared to its average volume of 667,731. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.29 and a current ratio of 0.29. F&G Annuities & Life has a one year low of $20.57 and a one year high of $36.70. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 7.78 and a beta of 1.20. The stock has a fifty day moving average price of $28.56 and a 200-day moving average price of $27.10.

Institutional Trading of F&G Annuities & Life

A number of hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in shares of F&G Annuities & Life during the first quarter worth approximately $89,000. AQR Capital Management LLC bought a new position in shares of F&G Annuities & Life during the 1st quarter valued at $521,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 worth $398,000 after purchasing an additional 452 shares during the period. Millennium Management LLC lifted its stake in F&G Annuities & Life by 330.8% in the first quarter. Millennium Management LLC now owns 217,306 shares of the company’s stock worth $7,834,000 after purchasing an additional 166,863 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in F&G Annuities & Life in the first quarter worth $276,000. Institutional investors own 95.86% of the company’s stock.

Analyst Ratings Changes

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

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.