F&G Annuities & Life (NYSE:FG) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

F&G Annuities & Life (NYSE:FG) issued its earnings results on Thursday. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.08, FiscalAI reports. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.51 billion. F&G Annuities & Life had a return on equity of 8.92% and a net margin of 18.90%.

F&G Annuities & Life Trading Up 8.0%

Shares of F&G Annuities & Life stock traded up $1.74 on Friday, reaching $23.41. The company had a trading volume of 1,059,177 shares, compared to its average volume of 614,757. The firm has a market cap of $3.07 billion, a price-to-earnings 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. The firm’s 50-day moving average price is $21.81 and its two-hundred day moving average price is $25.63. F&G Annuities & Life has a 1 year low of $18.75 and a 1 year high of $35.33.

F&G Annuities & Life Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 17th will be issued a $0.26 dividend. This is a positive change from F&G Annuities & Life’s previous quarterly dividend of $0.25. The ex-dividend date is Thursday, December 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.4%. F&G Annuities & Life’s dividend payout ratio (DPR) is presently 34.13%.

F&G Annuities & Life News Roundup

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research lowered shares of F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Weiss Ratings downgraded shares of F&G Annuities & Life from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Finally, Barclays decreased their price target on shares of F&G Annuities & Life from $27.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 7th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $24.00.

About F&G Annuities & Life