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F&G Annuities & Life Inc

F&G Annuities & Life Inc

FG
$23.57USD↓-1.34%-0.32 today

MARKET CAP

3.1B

P/E (TTM)

6.6x

FWD P/E

5.4x

DAY RANGE

$24 – $24

52W RANGE

$21
$35

AI Summary

Stalk
Sell NowMedium

In a Stage 4 decline, price remains below key moving averages with the intermediate downtrend intact. The medium-term tradable side is bearish; short-term price is pulling back into declining 9- and 20-period EMAs, creating a supply entry zone. We should sell now into strength around the short-term EMAs. A decisive break and close above the 20-period EMA, and ultimately the 50-day SMA, would invalidate the bearish posture.

  • ↑AUM rose 8% YoY to $74.7B, driven by positive asset flows.
  • ↑Core retail sales hit $1.8B in Q2, record indexed annuity sales.
  • ↓Alternative investments earned $49M, below 12% long-term target.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

F&G Annuities & Life Inc. (NYSE: FG) is a prominent player in the annuity and life insurance sectors, focusing on providing innovative financial solutions to meet the diverse needs of consumers and businesses. The company stands out by transitioning towards a fee-based revenue model, reflecting a strong commitment to enhancing profitability while reducing capital intensity. F&G is strategically positioned within the financial services landscape, leveraging its robust assets under management and a focus on disciplined capital allocation as a response to the evolving competitive environment.

Bull says

  • ↑AUM rose 8% YoY to $74.7B, driven by positive asset flows.
  • ↑Core retail sales hit $1.8B in Q2, record indexed annuity sales.
  • ↑Fee-based revenue target of 25% by 2028 underpins higher margins.
  • ↑$120M share buybacks plus 2.6% dividend yield bolster returns.
  • ↑Book-to-price ratio of 1.44 and high earnings yield support upside.
  • ↑Rising analyst earnings revisions signal improved future outlook.

Bear says

  • ↓Alternative investments earned $49M, below 12% long-term target.
  • ↓High price volatility and intensifying indexed annuity competition.
  • ↓Weak revenue growth metrics may indicate value-trap risk.
  • ↓Low liquidity and smaller size constrain capital flexibility.
  • ↓Very high short interest reflects bearish investor sentiment.
  • ↓PRT sales outlook uncertain amid competitive and market headwinds.

Investment themes with FG

High Dividend Yield↓ -0.51%

Companies paying above-average dividends

AVGO · JPM · XOM
L&H Insurance↓ -0.09%

PGR · TRV · ALL

Earnings Call · Q4 2023 · Mgmt. Guidance

Updated 02-21-2025neutral

Transcript signals

Bull points

  • In short, 2023 was one of our best years with numerous accomplishments worth highlighting.
  • We reported record gross sales of $13.2 billion in 2023, which exceeded the top end of the $12 billion to $13 billion range we provided at our Investor Day in October and were up 17% over the prior year, well in line with our goal of growing annual gross sales of a double-digit clip.
  • We've profitably grown retained assets under management to a record $49.5 billion at December 31. This is an increase of 14% over the prior year and was driven by net new business flows, stable in-force retention and net debt proceeds over the last 12 months.

Bear points

  • adjusted net earnings were $131 million in the fourth quarter 2023, down 9% from $144 million in fourth quarter of 2022.
  • We reported $299 million net loss in the fourth quarter of 2023 and a $58 million net loss in 2023 for full year. This result is primarily driven by unfavorable mark-to-market movement, which is excluded from adjusted net earnings.
  • We reported $299 million net loss in the fourth quarter of 2023 and a $58 million net loss in 2023 for full year. This result is primarily driven by unfavorable mark-to-market movement, which is excluded from adjusted net earnings.
Read full transcript analysis ›