F&G Annuities & Life (NYSE:FG) Trading Down 6.8% on Disappointing Earnings

F&G Annuities & Life, Inc. (NYSE:FG - Get Free Report) was down 6.8% on Friday following a weaker than expected earnings announcement. The company traded as low as $40.44 and last traded at $41.02. Approximately 37,681 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 69,941 shares. The stock had previously closed at $44.02.

The company reported $1.12 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($0.13). F&G Annuities & Life had a net margin of 11.12% and a return on equity of 14.14%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.34 billion.

F&G Annuities & Life Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, March 17th. This represents a $0.88 annualized dividend and a yield of 2.14%. F&G Annuities & Life's dividend payout ratio is 18.14%.

Analysts Set New Price Targets

Several brokerages have issued reports on FG. Stephens reiterated an "equal weight" rating and issued a $47.00 price objective on shares of F&G Annuities & Life in a research report on Monday. Barclays lifted their price target on F&G Annuities & Life from $46.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, January 6th.

Institutional Investors Weigh In On F&G Annuities & Life

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of F&G Annuities & Life by 59.6% in the 4th quarter. Blue Trust Inc. now owns 902 shares of the company's stock valued at $40,000 after purchasing an additional 337 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of F&G Annuities & Life by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,583 shares of the company's stock valued at $439,000 after buying an additional 386 shares during the period. Rhumbline Advisers increased its position in shares of F&G Annuities & Life by 1.6% in the 4th quarter. Rhumbline Advisers now owns 29,633 shares of the company's stock valued at $1,228,000 after buying an additional 469 shares in the last quarter. Arthur M. Cohen & Associates LLC raised its stake in F&G Annuities & Life by 2.1% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 34,815 shares of the company's stock worth $1,468,000 after buying an additional 725 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in F&G Annuities & Life by 476.6% during the fourth quarter. Federated Hermes Inc. now owns 888 shares of the company's stock worth $37,000 after acquiring an additional 734 shares in the last quarter. Institutional investors own 95.86% of the company's stock.

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F&G Annuities & Life Trading Up 0.6 %

The business has a 50 day simple moving average of $43.30 and a 200-day simple moving average of $43.36. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 8.48 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.25 and a quick ratio of 0.25.

About F&G Annuities & Life

F&G Annuities & Life, Inc engages in the provision of fixed annuity and life insurance products. It specializes in life insurance, annuities, retirement planning and wealth transfer. The company was founded in 1959 and is headquartered in Des Moines, IA.