F&G Annuities & Life (NYSE:FG) Issues Earnings Results

F&G Annuities & Life (NYSE:FG) posted its earnings results on Wednesday. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.13), FiscalAI reports. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate 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

Shares of NYSE FG traded down $0.02 during midday trading on Wednesday, reaching $29.65. The stock had a trading volume of 486,627 shares, compared to its average volume of 667,731. The stock has a 50-day moving average of $28.56 and a 200-day moving average of $27.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 7.78 and a beta of 1.20. F&G Annuities & Life has a 12-month low of $20.57 and a 12-month high of $36.70.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in F&G Annuities & Life in the 1st quarter worth $89,000. AQR Capital Management LLC bought a new stake in F&G Annuities & Life during the first quarter valued at about $521,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of F&G Annuities & Life by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,035 shares of the company’s stock valued at $398,000 after acquiring an additional 452 shares in the last quarter. Millennium Management LLC lifted its position in shares of F&G Annuities & Life by 330.8% in the first quarter. Millennium Management LLC now owns 217,306 shares of the company’s stock valued at $7,834,000 after acquiring an additional 166,863 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of F&G Annuities & Life in the first quarter worth about $276,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FG shares. Zacks Research raised F&G Annuities & Life to a “hold” rating in a report on Thursday, May 7th. Wall Street Zen cut F&G Annuities & Life from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. Barclays reduced their price objective 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. Raymond James Financial assumed coverage on F&G Annuities & Life in a research report on Wednesday, May 6th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of F&G Annuities & Life in a research note on Wednesday, June 24th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, F&G Annuities & Life currently has an average rating of “Hold” and an average price target of $30.00.

About F&G Annuities & Life

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.