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

F&G Annuities & Life, Inc. (NYSE:FG)’s share price fell 6.8% during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as $40.44 and last traded at $41.02. 37,681 shares traded hands during trading, a decline of 46% from the average session 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). F&G Annuities & Life had a return on equity of 13.05% and a net margin of 0.22%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.34 billion.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in F&G Annuities & Life by 23.1% in the third quarter. Principal Financial Group Inc. now owns 120,336 shares of the company’s stock valued at $5,381,000 after acquiring an additional 22,550 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in F&G Annuities & Life by 63.5% in the third 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 in the last quarter. Barclays PLC boosted its holdings in F&G Annuities & Life by 527.8% in the third 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 in the last quarter. Point72 Asset Management L.P. bought a new stake in F&G Annuities & Life in the third quarter valued at $521,000. Finally, Geode Capital Management LLC boosted its holdings in F&G Annuities & Life by 0.9% in the third 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 in the last quarter. Institutional investors own 95.86% of the company’s stock.

F&G Annuities & Life Trading Down 9.0 %

The stock has a market cap 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. The stock’s fifty day moving average price is $43.37 and its 200 day moving average price is $43.27.

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.