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

F&G Annuities & Life, Inc. (NYSE:FG)’s share price dropped 6.8% during trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $40.44 and last traded at $41.02. Approximately 37,681 shares were traded during 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.13). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.34 billion. F&G Annuities & Life had a net margin of 0.22% and a return on equity of 13.05%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its position in F&G Annuities & Life by 1,386.8% during the 3rd quarter. Blue Trust Inc. now owns 565 shares of the company’s stock worth $25,000 after purchasing an additional 527 shares in the last quarter. Federated Hermes Inc. increased its position in F&G Annuities & Life by 476.6% during the 4th quarter. Federated Hermes Inc. now owns 888 shares of the company’s stock worth $37,000 after purchasing an additional 734 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in F&G Annuities & Life during the 4th quarter worth about $114,000. AlphaQuest LLC increased its position in F&G Annuities & Life by 314,200.0% during the 4th quarter. AlphaQuest LLC now owns 3,143 shares of the company’s stock worth $130,000 after purchasing an additional 3,142 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in F&G Annuities & Life during the 4th quarter worth about $141,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Trading Down 6.8 %

The business has a 50-day moving average of $43.46 and a 200 day moving average of $43.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market cap of $5.17 billion, a PE ratio of -683.55 and a beta of 1.66.

F&G Annuities & Life Company Profile

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.