F&G Annuities & Life (NYSE:FG) Posts Quarterly Earnings Results, Misses Estimates By $0.43 EPS

F&G Annuities & Life (NYSE:FG) released its quarterly earnings results on Thursday. The company reported $0.91 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.43), FiscalAI reports. F&G Annuities & Life had a return on equity of 11.41% and a net margin of 8.40%.The firm had revenue of $739.00 million for the quarter, compared to the consensus estimate of $1.55 billion.

F&G Annuities & Life Stock Down 3.6%

Shares of F&G Annuities & Life stock opened at $27.74 on Friday. F&G Annuities & Life has a 12-month low of $26.45 and a 12-month high of $45.11. The firm has a market capitalization of $3.73 billion, a PE ratio of 8.13 and a beta of 1.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $29.54 and its 200-day moving average is $31.34.

Insiders Place Their Bets

In related news, CEO Christopher O. Blunt purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were purchased at an average price of $29.56 per share, with a total value of $147,800.00. Following the purchase, the chief executive officer owned 1,117,396 shares of the company’s stock, valued at $33,030,225.76. This trade represents a 0.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of F&G Annuities & Life by 33.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,121,563 shares of the company’s stock valued at $34,605,000 after acquiring an additional 280,594 shares in the last quarter. State Street Corp raised its stake in F&G Annuities & Life by 93.6% during the 4th quarter. State Street Corp now owns 847,443 shares of the company’s stock valued at $26,144,000 after purchasing an additional 409,743 shares during the period. Geode Capital Management LLC raised its stake in F&G Annuities & Life by 44.2% during the 4th quarter. Geode Capital Management LLC now owns 736,885 shares of the company’s stock valued at $22,735,000 after purchasing an additional 225,817 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of F&G Annuities & Life by 870.1% in the third quarter. Ameriprise Financial Inc. now owns 642,313 shares of the company’s stock valued at $20,085,000 after purchasing an additional 576,102 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of F&G Annuities & Life in the fourth quarter worth $14,568,000. 95.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FG. Barclays set a $31.00 price objective on shares of F&G Annuities & Life in a report on Thursday, January 8th. Zacks Research downgraded F&G Annuities & Life from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Wall Street Zen raised F&G Annuities & Life from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of F&G Annuities & Life in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.00.

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.