F&G Annuities & Life (NYSE:FG) Shares Down 6.8% After Earnings Miss

Shares of F&G Annuities & Life, Inc. (NYSE:FG) were down 6.8% during mid-day trading 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 return on equity of 13.05% and a net margin of 0.22%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.34 billion.

Analyst Ratings Changes

Separately, Barclays boosted their target price on F&G Annuities & Life from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th.

Institutional Investors Weigh In On F&G Annuities & Life

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in shares of F&G Annuities & Life by 23.1% during the 3rd quarter. Principal Financial Group Inc. now owns 120,336 shares of the company’s stock valued at $5,381,000 after purchasing an additional 22,550 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of F&G Annuities & Life by 63.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 45,952 shares of the company’s stock valued at $2,055,000 after acquiring an additional 17,845 shares during the period. Barclays PLC grew its stake in shares of F&G Annuities & Life by 527.8% during the 3rd quarter. Barclays PLC now owns 42,524 shares of the company’s stock valued at $1,902,000 after acquiring an additional 35,750 shares during the period. Point72 Asset Management L.P. bought a new position in shares of F&G Annuities & Life during the 3rd quarter valued at approximately $521,000. Finally, Geode Capital Management LLC grew its stake in shares of F&G Annuities & Life by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 405,047 shares of the company’s stock valued at $18,117,000 after acquiring an additional 3,453 shares during the period. Hedge funds and other institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Trading Down 9.0 %

The stock has a 50 day moving average of $43.37 and a 200-day moving average of $43.27. The company has a market capitalization of $5.05 billion, a P/E ratio of -667.89 and a beta of 1.66. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.46.

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.