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

Key Points

• Quarterly EPS beat expectations: F&G reported $0.74 per share versus the $0.66 consensus, while revenue of $1.13 billion fell short of analysts’ $1.51 billion estimate.
• The company raised its quarterly dividend from $0.25 to $0.26 per share, equivalent to an annualized yield of about 4.4% at the figures cited.
• Shares rose 8% in Friday midday trading to $23.41, though analyst sentiment remained cautious: the consensus rating was “Reduce,” with a $24 price target.

F&G Annuities & Life (NYSE:FG - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.08, FiscalAI reports. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.51 billion. F&G Annuities & Life had a net margin of 18.90% and a return on equity of 8.92%.

F&G Annuities & Life Stock Up 8.0%

F&G Annuities & Life stock traded up $1.74 during midday trading on Friday, reaching $23.41. The stock had a trading volume of 1,059,177 shares, compared to its average volume of 614,757. The stock has a market capitalization of $3.07 billion, a P/E ratio of 3.10 and a beta of 1.20. The firm's fifty day simple moving average is $21.81 and its 200-day simple moving average is $25.63. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.30 and a current ratio of 0.30. F&G Annuities & Life has a 1-year low of $18.75 and a 1-year high of $35.33.

F&G Annuities & Life Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.4%. This is a boost from F&G Annuities & Life's previous quarterly dividend of $0.25. F&G Annuities & Life's payout ratio is 34.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FG shares. Barclays lowered their price objective on shares of F&G Annuities & Life from $27.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 7th. Zacks Research cut shares of F&G Annuities & Life from a "hold" rating to a "strong sell" rating in a research report on Thursday, September 3rd. Finally, Weiss Ratings lowered shares of F&G Annuities & Life from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $24.00.

F&G Annuities & Life News Summary

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

About F&G Annuities & Life

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