FG · F&G Annuities & Life, Inc.
Market Cap
$3.09B
Shares
130.94M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$23.59
Open$23.35
Day$23.01–23.66
52W close$20.69–35.31
Avg vol 30d635K
Short int3.0M · 2.3% float · 5.8d
Short vol53%
Last earningsJul 8, 2026
DataNov 2022–Aug 2026
Filing10-Q · Aug 6
Up next
Next earnings call
Sep 30, 2026
Est · unconfirmed
· in 5 wks
FQ3-26 quarter ends
~Sep 30, 2026
Est
filed Aug 6, 2026
AI Brief
TL;DR.
Bullish
Bearish
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Rating
blended score · not investment adviceOverall
Sell
SellHoldBuy
Technical
Strong Sell
Momentum
Weak
Sentiment
Neutral
Fundamentals
Fair
Quant / Vol
Very High
Market backdrop
VIX 14.5 · calm
Equity put/call 0.39
Technical
price trend
50 / 200-day cross
Death cross
Price vs 200-day avg
−16%
below
Price vs 50-day avg
−15%
below
RSI (14)
33
neutral
MACD trend
Negative
52-week position
20%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−19%
trailing
6-month return
+3%
trailing
YTD return
−24%
this year
Relative strength
−11%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
Death cross
50d $28 › 200d $28 — 200d above 50d
Institutional flow
Distributing
-3% holders QoQ · +57 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
2.30% of float · ▼ -6.4% MoM · 5.8 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
325 holders — mid 3-yr range
Squeeze score
53
elevated · 0–100
Fundamentals
Revenue growth
−0%
Y/Y
EPS growth
−61%
Y/Y
Valuation
P/E 7.9
below peers
Buyback
$62.0M
authorized
Balance sheet
$751.0M
net debt
Quant / Vol
risk profile
Volatility
39%
annualized · 1-yr
Max drawdown
−41%
past year
ATR
4.4%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Jul 8, 2026
Investment income from alternative investments
· three months ended June 30, 2026
$56M – $66M
Prior guidance
period ended
· from the Earnings Call filed Sep 30, 2024
EBITDA of owned distribution portfolio
· 2024
$65M – $70M
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong Sell
50 / 200-day cross
Death cross
Bearish
Price vs 200-day avg
−16%
Bearish
Price vs 50-day avg
−15%
Bearish
RSI (14)
33
Neutral
MACD trend
Negative
Bearish
52-week position
20%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross)
Death cross
50d $28 › 200d $28 — 200d above 50d
Institutional flow
Distributing
-3% holders QoQ · +57 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
2.30% of float · ▼ -6.4% MoM · 5.8 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Steady
325 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $21
Now $24 · 20%
Range high $35
vs 200-day avg -16%
vs 50-day avg -15%
50-day below 200-day death cross
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted net earnings non-GAAP | $195M | Six months ended June 30, 2026 | — |
|
|
|||
| Adjusted net earnings (ANE) non-GAAP | $85M | 2Q26 | -17.5% |
|
|
|||
| Adjusted net earnings attributable to common shareholders non-GAAP | $195M | Six months ended June 30, 2026 | — |
|
|
|||
| Adjusted net earnings attributable to common shareholders - rolling four quarters non-GAAP | $483M | Twelve months ended June 30, 2026 | — |
| Adjusted net earnings per share non-GAAP | $1.49 | Six months ended June 30, 2026 | — |
|
|
|||
| Adjusted return on assets non-GAAP | 0.68% | 2Q26 | — |
|
|
|||
| Adjusted return on assets (ROA) non-GAAP | 0.68% | 2Q26 | — |
|
|
|||
| Adjusted return on average equity (ex. AOCI) non-GAAP | 8% | second quarter | — |
|
|
|||
| Adjusted return on equity (ROE) non-GAAP | 8% | 2Q26 | — |
|
|
|||
| Adjusted weighted average diluted shares non-GAAP | 130M | 2Q26 | — |
|
|
|||
| Assets under management non-GAAP | $55.87B | June 30, 2026 | — |
| Average assets under management (AAUM) | 56.9B | 2Q26 | — |
| Average assets under management (AAUM) YTD non-GAAP | $56.94B | Six months ended June 30, 2026 | — |
|
|
|||
| Book value per share ex AOCI non-GAAP | $45.93 | 2Q26 | — |
|
|
|||
GAAP → non-GAAP reconciliationGAAP Book value per common share excluding AOCI - As of December 31, 2025 $44.43
+$0.1 Effect of F&G Life Re (Bermuda) sale (one-time item)
+$1.05 Adjusted net earnings and other
+$0.27 Capital actions
+$0.08 Mark-to-market movement
= Book value per common share, excluding AOCI $45.93
|
|||
| Capital returned to shareholders | $128M | second quarter | — |
|
|
|||
| Common shares repurchased | 4.5M | first half of 2026 | — |
| Core institutional sales | 0.2B | 2Q26 | — |
| Core retail sales | 1.8B | 2Q26 | — |
| Core sales | $3.96B | Six months ended June 30, 2026 | — |
|
|
|||
| Fixed rate annuities ("MYGA") non-GAAP | $284M | Six months ended June 30, 2026 | — |
|
|
|||
| Funding agreements ("FABN/FHLB") non-GAAP | $1.65B | Six months ended June 30, 2026 | — |
|
|
|||
| Gross sales | $5.89B | Six months ended June 30, 2026 | — |
|
|
|||
| Gross Sales: Core Retail | $1.8B | 2Q26 | — |
| Indexed annuities ("FIA/RILA") non-GAAP | $3.32B | Six months ended June 30, 2026 | — |
|
|
|||
| Indexed universal life ("IUL") non-GAAP | $86M | Six months ended June 30, 2026 | — |
|
|
|||
| Net flow reinsurance to third parties | -$1.49B | Six months ended June 30, 2026 | — |
|
|
|||
| Net inforce reinsurance to third parties | -$1.81B | Six months ended June 30, 2026 | — |
| Net new business asset flows | $1.6B | Six months ended June 30, 2026 | — |
|
|
|||
| Net sales | $3.71B | Six months ended June 30, 2026 | — |
|
|
|||
| Operating expense ratio (bps) non-GAAP | 47 | QE 2Q26 | — |
|
|
|||
| Opportunistic sales | $1.93B | Six months ended June 30, 2026 | — |
|
|
|||
| Pension risk transfer ("PRT") non-GAAP | $549M | Six months ended June 30, 2026 | — |
|
|
|||
| Retained AUM | 55.9B | QE 2Q26 | — |
|
|
|||
| Sales attributable to flow reinsurance to third parties non-GAAP | -$2.18B | Six months ended June 30, 2026 | — |
|
|
|||
| Total F&G Equity ex AOCI non-GAAP | $6B | 2Q26 | — |
|
|
|||
GAAP → non-GAAP reconciliationGAAP Total F&G Annuities & Life, Inc. shareholders' equity 4.61B
-250M Less: Preferred stock
+1.66B Less: AOCI
= Total F&G equity attributable to common shareholders, excluding AOCI 6.02B
|
|||
| Total net deposits | $1.44B | Six months ended June 30, 2026 | — |
| Yield on AAUM non-GAAP | 5.07% | Six months ended June 30, 2026 | — |
|
|
|||
| Annualized return on alternative investments (midpoint of preliminary range) non-GAAP | 6% | Q2 FY2026 | — |
| Estimated U.S. RBC ratio, pro forma impact from new NAIC CLO RBC factor requirements | 10% | December 31, 2026 pro forma | — |
| Investment income from alternative investments (pre-tax, high end of preliminary range) | $66M | Q2 FY2026 | — |
| Investment income from alternative investments (pre-tax, low end of preliminary range) | $56M | Q2 FY2026 | — |
| AAUM QTD non-GAAP | $57.91B | Three months ended March 31, 2026 | — |
| AAUM QTD, excluding alternative investments non-GAAP | $53.76B | Three months ended March 31, 2026 | — |
| Adjusted interest and investment income non-GAAP | $736M | Three months ended March 31, 2026 | — |
|
|
|||
GAAP → non-GAAP reconciliationGAAP US GAAP interest and investment income 723M
+10M Recognized (gains) losses, net
+5M Transaction costs, other and non-recurring items
-2M Reclass of dividend income to owned distribution margin
= Adjusted interest and investment income 736M
|
|||
| Adjusted return on equity (ex AOCI) non-GAAP | 8.4% | 1Q26 | — |
| Alternative investments as percentage of total retained portfolio | 7% | 1Q26 | — |
| Assets under management (AUM) | $56.44B | Q1 2026 | — |
|
|
|||
| AUM before reinsurance non-GAAP | $74.45B | Q1 2026 | — |
| Average loan size | $7M | 1Q26 | — |
| Average loan-to-value | 60% | 1Q26 | — |
| CLO portfolio average NAIC rating | 1.4 | 3/31/2026 | — |
| CLO portfolio par subordination | 21% | 3/31/2026 | — |
| CML portfolio holdings | 325 | 1Q26 | — |
| CML portfolio loans with a DSCR <1x | 0.5% | 1Q26 | — |
| Commercial Mortgage Loan portfolio average loan size | $7M | 3/31/2026 | — |
| Commercial Mortgage Loan portfolio holdings | 325 | 3/31/2026 | — |
| common and preferred dividends | $38M | 1Q26 | — |
| Common shares outstanding | 134M | March 31, 2026 | — |
| Cost of funds non-GAAP | -$496M | Three months ended March 31, 2026 | — |
|
|
|||
| Fixed rate annuities (MYGA) sales | $183M | Three months ended March 31, 2026 | — |
| Funding agreements (FABN/FHLB) sales | $1.05B | Three months ended March 31, 2026 | — |
| Indexed annuities (FIA/RILA) sales | $1.58B | Three months ended March 31, 2026 | — |
| Indexed universal life (IUL) sales | $44M | Three months ended March 31, 2026 | — |
| net floating rate exposure | $2.4B | 3/31/2026 | — |
| Operating expenses non-GAAP | -$84M | Three months ended March 31, 2026 | — |
| Owned distribution margin non-GAAP | $9M | Three months ended March 31, 2026 | — |
|
|
|||
GAAP → non-GAAP reconciliationGAAP US GAAP line items subtotal 16M
-2M Non-controlling interest
+1M Reclass of affiliated DAC to cost of funds
+2M Reclass of owned distribution dividend income from interest and investment income
-8M Reclass of owned distribution expenses from operating expenses
= Owned distribution margin 9M
|
|||
| Owned distribution margin (ANE) non-GAAP | 9M | 1Q26 | — |
| Pension risk transfer (PRT) sales | $317M | Three months ended March 31, 2026 | — |
| private origination portfolio as a percentage of total portfolio | 21% | 3/31/2026 | — |
| private origination – corporate lending as a percentage of private origination | 58% | 3/31/2026 | — |
| private origination – middle market lending | $4.8B | 3/31/2026 | — |
| private origination – middle market lending as a percentage of total retained portfolio | 9% | 3/31/2026 | — |
| private origination – middle market lending investment grade | 89% | 3/31/2026 | — |
| real estate portfolio weighted average life | 5.7 | 3/31/2026 | — |
| Share repurchases | 29M | 1Q26 | — |
| Shares repurchased | 1.2M | 1Q26 | — |
| % Surrender protected | 92% | YE 2025 | — |
| Adjusted ROA non-GAAP | 0.87% | FY2025 | — |
| ANE per share non-GAAP | $3.64 | FY2025 | — |
| Assets under management (AUM) before flow reinsurance non-GAAP | $73.1B | as of December 31, 2025 | — |
| AUM before flow reinsurance non-GAAP | $73.09B | as of December 31, 2025 | — |
GAAP → non-GAAP reconciliationGAAP AUM 57.57B
+15.52B Flow reinsurance
= AUM before flow reinsurance 73.09B
|
|||
| Book value per common share | $33.49 | Year ended December 31, 2025 | — |
| Estimated risk-based capital (RBC) ratio non-GAAP | 430% | as of December 31, 2025 | — |
| Flow reinsurance non-GAAP | 15.52B | Q4 FY2025 | — |
| Flow reinsurance fee income non-GAAP | $56M | Year ended December 31, 2025 | — |
| Impact of other considerations to Adj. ROA non-GAAP | 0.45% | 4Q25 | — |
| Investment income from alternative investments below long-term expected return non-GAAP | $65M | three months ended December 31, 2025 | — |
| Op Exp (bps) non-GAAP | 50 | FY2025 | — |
| Operating expense ratio non-GAAP | 50 | FY2025 | — |
| Weighted average time remaining in surrender charge period | 5.3 | YE 2025 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Insurance - Life — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
FG
this stock
F&G Annuities & Life, Inc.
|
$3.09B | -23.5% | -0.2% | 7.9 | 2.3% |
|
CILJF
China Life Insurance Co Ltd
|
$105.43B | +8.1% | — | — | 0.0% |
|
MFC
Manulife Financial Corp
|
$71.71B | +18.9% | — | — | 1.3% |
|
MET
Metlife Inc
|
$61.16B | +21.9% | +8.6% | 18.4 | 1.8% |
|
AFL
Aflac Inc
|
$58.88B | +5.7% | -9.3% | 12.7 | 2.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| FG | +4.2% | -19.0% | +3.4% | -17.4% | -23.5% |
| SPY | +1.1% | +4.0% | +14.7% | +3.2% | +13.1% |
| vs SPY | +3.1% | -23.0% | -11.3% | -20.7% | -36.6% |
Capital returns
Latest dividend
$0.25
/ share · ex Jun 16, 2026
Declared · upcoming
$0.25
/ share · ex Sep 16, 2026
Paid (TTM)
$0.97
/ share · 4 payouts
Dividend yield (TTM, derived)
4.11%
Buyback programs
· 2 active
· as of Jun 30, 2026
Authorized (total)
$62.00M
Spent (derived)
—
Remaining
—
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1934850
CUSIP
30190A104
13F (30d)
242 filings
240 filers
Visit website
Investor relations