F&G Annuities & Life (NYSE:FG) Shares Cross Above 50-Day Moving Average – Here’s What Happened

F&G Annuities & Life, Inc. (NYSE:FG)’s share price passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $21.81 and traded as high as $24.04. F&G Annuities & Life shares last traded at $23.4150, with a volume of 1,059,177 shares.

Key Headlines Impacting F&G Annuities & Life

Here are the key news stories impacting F&G Annuities & Life this week:

• Positive Sentiment: F&G raised its quarterly common dividend 4%, from $0.25 to $0.26 per share. The annualized payout is $1.04, equivalent to a 4.4% yield based on the figures provided. Dividend announcement
• Positive Sentiment: The board authorized a new three-year share repurchase program of up to $100 million, potentially returning additional capital to shareholders and supporting per-share results if shares are bought back. Share repurchase announcement
• Positive Sentiment: Third-quarter earnings per share of $0.74 beat the $0.66 consensus estimate, providing a positive earnings surprise. Q3 earnings estimate report
• Neutral Sentiment: F&G is targeting $1 billion to $1.5 billion in full-year pension risk transfer sales. The company also said its strategic review of Peak Altitude remains active; the sales target offers a growth indicator, while the review’s outcome is uncertain. PRT sales and strategic review
• Negative Sentiment: Revenue was $1.13 billion, well below analysts’ $1.51 billion expectation, and EPS was lower than the $1.22 reported a year earlier. The shortfall and year-over-year decline may temper the earnings beat. Q3 results analysis

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FG. Zacks Research downgraded shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Barclays cut their target price on F&G Annuities & Life from $27.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. Finally, Weiss Ratings downgraded shares of F&G Annuities & Life from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, F&G Annuities & Life presently has an average rating of “Reduce” and a consensus price target of $24.00.

F&G Annuities & Life Stock Performance

The stock has a market capitalization of $3.07 billion, a PE ratio of 3.10 and a beta of 1.20. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.30 and a quick ratio of 0.30. The business’s fifty day moving average price is $21.81 and its 200-day moving average price is $25.63.

F&G Annuities & Life (NYSE:FG) last posted its earnings results on Thursday, November 5th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.08. F&G Annuities & Life had a net margin of 6.89% and a return on equity of 10.28%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.51 billion. As a group, equities research analysts expect that F&G Annuities & Life, Inc. will post 2.93 EPS for the current year.

F&G Annuities & Life Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.4%. The ex-dividend date is Thursday, December 17th. This is a positive change from F&G Annuities & Life’s previous quarterly dividend of $0.25. F&G Annuities & Life’s dividend payout ratio is presently 34.13%.

Hedge Funds Weigh In On F&G Annuities & Life

A number of institutional investors have recently modified their holdings of the company. Edgestream Partners L.P. grew its stake in shares of F&G Annuities & Life by 29.1% during the first quarter. Edgestream Partners L.P. now owns 191,759 shares of the company’s stock valued at $4,855,000 after buying an additional 43,264 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of F&G Annuities & Life by 57,959.4% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 18,579 shares of the company’s stock valued at $470,000 after buying an additional 18,547 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in F&G Annuities & Life in the fourth quarter valued at approximately $989,000. SEB Asset Management AB purchased a new stake in shares of F&G Annuities & Life in the first quarter valued at approximately $5,810,000. Finally, Dimensional Fund Advisors LP boosted its stake in F&G Annuities & Life by 32.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,480,179 shares of the company’s stock worth $37,475,000 after buying an additional 358,616 shares during the last quarter. 95.86% of the stock is owned by institutional investors and hedge funds.

F&G Annuities & Life Company Profile