F&G Annuities & Life (NYSE:FG) Share Price Breaks Above 50-Day Moving Average – Should You Sell?

F&G Annuities & Life, Inc. (NYSE:FG – Get Free Report)’s stock price crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $21.81 and traded as high as $24.04. F&G Annuities & Life shares last traded at $23.4150, with a volume of 1,059,177 shares traded.

Trending Headlines about F&G Annuities & Life

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 Analysts Forecast Growth

A number of brokerages have weighed in on FG. Zacks Research cut F&G Annuities & Life from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Weiss Ratings lowered shares of F&G Annuities & Life from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Barclays lowered their target price 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 report on Wednesday, October 7th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, F&G Annuities & Life presently has an average rating of “Reduce” and an average price target of $24.00.

Get Our Latest Stock Report on F&G Annuities & Life

F&G Annuities & Life Trading Up 8.0%

The business’s 50 day simple moving average is $21.81 and its 200 day simple moving average is $25.63. 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 company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 3.10 and a beta of 1.20.

F&G Annuities & Life (NYSE:FG – Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.08. F&G Annuities & Life had a net margin of 18.90% and a return on equity of 8.92%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.51 billion. Research analysts anticipate that F&G Annuities & Life, Inc. will post 2.93 EPS for the current year.

F&G Annuities & Life Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $1.04 annualized dividend and a yield of 4.4%. This is a boost from F&G Annuities & Life’s previous quarterly dividend of $0.25. F&G Annuities & Life’s dividend payout ratio (DPR) is currently 34.13%.

Institutional Trading of F&G Annuities & Life

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of F&G Annuities & Life by 32.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,480,179 shares of the company’s stock valued at $37,475,000 after purchasing an additional 358,616 shares in the last quarter. SEB Asset Management AB acquired a new stake in shares of F&G Annuities & Life in the first quarter valued at approximately $5,810,000. Edgestream Partners L.P. increased its stake in shares of F&G Annuities & Life by 29.1% during the 1st quarter. Edgestream Partners L.P. now owns 191,759 shares of the company’s stock worth $4,855,000 after purchasing an additional 43,264 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of F&G Annuities & Life during the 4th quarter worth approximately $989,000. Finally, Fifth Third Bancorp increased its stake in shares of F&G Annuities & Life by 6,833.3% during the 1st quarter. Fifth Third Bancorp now owns 23,088 shares of the company’s stock worth $585,000 after purchasing an additional 22,755 shares in the last quarter. 95.86% of the stock is owned by institutional investors and hedge funds.

F&G Annuities & Life Company Profile

(Get Free Report)

Further Reading

Receive News & Ratings for F&G Annuities & Life Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for F&G Annuities & Life and related companies with MarketBeat.com's FREE daily email newsletter.