F&G Annuities & Life (NYSE:FG) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Shares crossed above the 50-day moving average: F&G traded as high as $24.04 and last changed hands at $23.415, above its 50-day average of $21.81.
• Quarterly results were mixed: EPS of $0.74 beat the $0.66 consensus, but revenue of $1.13 billion fell short of analysts’ $1.51 billion estimate, and EPS was down from $1.22 a year earlier.
• Shareholder returns increased, though analyst sentiment remains cautious: F&G raised its quarterly dividend 4% to $0.26 and authorized a share-repurchase program of up to $100 million. Analysts’ average rating is “Reduce,” with a $24 consensus price target.

F&G Annuities & Life, Inc. (NYSE:FG - Get Free Report)'s stock price passed above its fifty day moving average during trading on Friday. The stock has a fifty 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 changing hands.

More F&G Annuities & Life News

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 Ratings Changes

FG has been the topic of several recent research reports. Barclays lowered their price objective on F&G Annuities & Life from $27.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 7th. Weiss Ratings cut F&G Annuities & Life from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. Finally, Zacks Research cut F&G Annuities & Life from a "hold" rating to a "strong sell" rating in a report on Thursday, September 3rd. 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, the stock has an average rating of "Reduce" and a consensus price target of $24.00.

F&G Annuities & Life Stock Performance

The firm has a 50-day moving average price of $21.81 and a two-hundred day moving average price of $25.63. The firm has a market capitalization of $3.07 billion, a P/E 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.

F&G Annuities & Life (NYSE:FG - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.66 by $0.08. The company 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 6.89% and a return on equity of 10.28%. On average, analysts forecast that F&G Annuities & Life, Inc. will post 2.93 EPS for the current fiscal year.

F&G Annuities & Life Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors 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 dividend yield of 4.4%. This is an increase from F&G Annuities & Life's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, December 17th. F&G Annuities & Life's payout ratio is 34.13%.

Institutional Investors Weigh In On F&G Annuities & Life

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in F&G Annuities & Life by 32.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,480,179 shares of the company's stock worth $37,475,000 after purchasing an additional 358,616 shares in the last quarter. SEB Asset Management AB bought a new position in shares of F&G Annuities & Life during the 1st quarter worth $5,810,000. Edgestream Partners L.P. raised 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 worth $4,855,000 after acquiring an additional 43,264 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of F&G Annuities & Life by 18.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 121,411 shares of the company's stock worth $3,074,000 after buying an additional 18,746 shares during the period. Finally, Crescent Grove Advisors LLC raised its position in F&G Annuities & Life by 1.5% in the first quarter. Crescent Grove Advisors LLC now owns 65,221 shares of the company's stock worth $1,651,000 after acquiring an additional 941 shares during the period. Hedge funds and other institutional investors own 95.86% of the company's stock.

About F&G Annuities & Life

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