GET DAILY SIGNALSF&G Annuities & Life (FG) Delivers Q3 Earnings Jump on Mark-to-Market Gains
Key Takeaways
- F&G Annuities & Life reported third quarter 2026 net earnings attributable to common shareholders of $736 million, or $5.48 per diluted share, up sharply from $114 million, or $0.85 per share, a year earlier.
- The jump was driven largely by $648 million of favorable mark-to-market effects, while total revenues declined 33% year over year to $1.13 billion.
- Adjusted net earnings came in at $96 million, or $0.74 per share, above the roughly $0.66 consensus estimate, reflecting an adjusted EPS beat.
- Assets under management (AUM) before flow reinsurance reached a record $76.2 billion, up 7% from $71.4 billion, powered by record core retail sales of $2.1 billion.
- Management continued to de-emphasize lower-return multiyear guaranteed annuities in favor of higher-margin, fee-based and spread-based growth.
- For more detail on F&G's Major News, Today's Price Move, Price Targets, and Forecast, explore the dedicated ticker pages.
- To spot similar opportunities across the market, explore Trending AI Robots for automated, AI-driven trading ideas.
Why the Results Matter
F&G Annuities & Life is a Des Moines, Iowa-based provider of retail annuities and life insurance, alongside institutional products such as funding agreements and pension risk transfer. Its third quarter 2026 report matters because it tests whether the company can sustain disciplined, return-focused growth while deliberately pulling back from lower-margin multiyear guaranteed annuities. Heading into the quarter, investors were watching core retail momentum, margin durability, and capital deployment. The results showed record core retail sales and a healthy adjusted EPS beat, reinforcing management's strategy of shifting toward a more fee-based, higher-margin, and less capital-intensive business model. I also checked this using Tickeron’s AI Screener to see how FG stacks up against peers in the sector.
Reported Results
For the third quarter ended September 30, 2026, F&G reported net earnings attributable to common shareholders of $736 million, or $5.48 per diluted share, compared with $114 million, or $0.85 per share, in the prior-year period. The surge was primarily driven by $648 million of favorable mark-to-market effects, which can swing results significantly from quarter to quarter.
On an adjusted basis, which strips out these market-driven movements and other non-recurring items, net earnings were $96 million, or $0.74 per share, beating the consensus estimate of approximately $0.66 per share. Total revenues were $1.13 billion, down 33% from $1.69 billion a year earlier, largely reflecting the deliberate de-emphasis of multiyear guaranteed annuities.
Growth metrics were a bright spot. Assets under management before flow reinsurance reached a record $76.2 billion, up 7% from $71.4 billion, while core retail sales hit a record $2.1 billion. Gross sales totaled $3.0 billion, and net sales were $1.4 billion.
Market Reaction and Investor Sentiment
Because F&G released its results after the market close on November 5, 2026, the full post-earnings price reaction unfolds in subsequent trading sessions. The combination of an adjusted EPS beat and record core retail sales is likely to be viewed favorably, while the headline revenue decline of 33% requires context: it largely reflects the intentional reduction of lower-margin multiyear guaranteed annuity volumes rather than a deterioration in core demand. Investors will likely focus on the quality of earnings, the durability of core retail momentum, and the record AUM base, which provides a larger foundation for future spread-based and fee-based earnings.
Forward Outlook and Key Factors to Monitor
Management's commentary pointed to continued momentum, anchored by record core retail sales and a record $76.2 billion of AUM before flow reinsurance. The company is positioning itself toward a more fee-based, higher-margin, and less capital-intensive model, which should be a key theme to monitor in coming quarters.
Several factors will shape the path ahead. First, investors should watch whether core retail sales momentum persists, since fixed indexed annuities and indexed universal life are central to F&G's growth story. Second, margin trends matter: management has accepted lower opportunistic sales to protect returns, so the trade-off between volume and profitability will remain in focus.
Third, capital deployment is worth tracking. Through the first nine months of 2026, F&G returned $232 million to shareholders via $112 million of dividends and $120 million of share repurchases, and continued buyback activity could support per-share metrics. Finally, investment income from alternative investments ran below management's long-term target, a dynamic that could either normalize or remain a headwind depending on market conditions.
Using Tickeron Tools in My Process
When analyzing names like FG, I find Tickeron’s AI Screener helpful for quickly filtering insurance and financial stocks by technical patterns, fundamentals, and AI-driven signals. It lets me scan for comparable setups and build focused watchlists without spending hours on manual review. This kind of tool fits naturally into a routine that blends earnings data with broader market context.
Disclaimer
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
FG in upward trend: price rose above 50-day moving average on November 04, 2026
FG moved above its 50-day moving average on November 04, 2026 date and that indicates a change from a downward trend to an upward trend. In 25 of 31 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are 81%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where FG's RSI Oscillator exited the oversold zone, 17 of 22 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 77%.
The Momentum Indicator moved above the 0 level on October 21, 2026. You may want to consider a long position or call options on FG as a result. In 56 of 72 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 78%.
The Moving Average Convergence Divergence (MACD) for FG just turned positive on October 19, 2026. Looking at past instances where FG's MACD turned positive, the stock continued to rise in 23 of 35 cases over the following month. The odds of a continued upward trend are 66%.
Following a +3.09% 3-day Advance, the price is estimated to grow further. Considering data from situations where FG advanced for three days, in 179 of 246 cases, the price rose further within the following month. The odds of a continued upward trend are 73%.
FG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FG declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 68%.
The Aroon Indicator for FG entered a downward trend on October 23, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of 21 (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.628) is normal, around the industry mean (1.352). P/E Ratio (7.249) is within average values for comparable stocks, (20.493). Projected Growth (PEG Ratio) (0.010) is also within normal values, averaging (0.463). Dividend Yield (0.045) settles around the average of (0.047) among similar stocks. P/S Ratio (0.534) is also within normal values, averaging (1.303).
The Tickeron Profit vs. Risk Rating rating for this company is 66 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 60, placing this stock slightly worse than average.
The Tickeron Seasonality Score of 70 (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is 72 (best 1 - 100 worst), indicating slightly worse than average price growth. FG’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 85 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 94 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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General Information
a holding company with interest in providing life insurance services
Industry LifeHealthInsurance
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