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

Key Points

• F&G Annuities & Life missed quarterly estimates: The company reported earnings of $0.65 per share, $0.13 below consensus, while revenue of $1.42 billion also fell short of the $1.49 billion estimate.
• Shares were nearly unchanged, trading down 0.1% to $29.65. The stock has a market capitalization of approximately $3.93 billion and has traded between $20.57 and $36.70 over the past year.
• Analyst sentiment remains cautious: The stock carries a consensus “Hold” rating from four analysts, with an average price target of $30.00; institutional investors own 95.86% of outstanding shares.

F&G Annuities & Life (NYSE:FG - Get Free Report) posted its quarterly 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. F&G Annuities & Life had a return on equity of 10.73% and a net margin of 8.89%.The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.49 billion.

F&G Annuities & Life Trading Down 0.1%

NYSE:FG traded down $0.02 on Wednesday, reaching $29.65. 486,627 shares of the stock traded hands, compared to its average volume of 667,731. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 7.78 and a beta of 1.20. The company's 50 day moving average is $28.56 and its 200-day moving average is $27.10. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.47. F&G Annuities & Life has a 1-year low of $20.57 and a 1-year high of $36.70.

Analysts Set New Price Targets

A number of research firms have issued reports on FG. Zacks Research upgraded F&G Annuities & Life to a "hold" rating in a research report on Thursday, May 7th. Barclays reduced their price target on shares of F&G Annuities & Life from $31.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Raymond James Financial initiated coverage on shares of F&G Annuities & Life in a report on Wednesday, May 6th. They set a "market perform" rating on the stock. Wall Street Zen cut shares of F&G Annuities & Life from a "buy" rating to a "hold" rating in a research report on Sunday, July 5th. Finally, Weiss Ratings reissued 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, According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $30.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its holdings in shares of F&G Annuities & Life by 36,166.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,088 shares of the company's stock worth $34,000 after purchasing an additional 1,085 shares in the last quarter. FIL Ltd acquired a new stake in F&G Annuities & Life in the 4th quarter valued at $37,000. Parallel Advisors LLC increased its stake in F&G Annuities & Life by 11,090.9% during the 4th quarter. Parallel Advisors LLC now owns 1,231 shares of the company's stock valued at $38,000 after purchasing an additional 1,220 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of F&G Annuities & Life during the fourth quarter worth about $41,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of F&G Annuities & Life in the fourth quarter worth approximately $43,000. 95.86% of the stock is owned by institutional investors and hedge funds.

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.

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