F&G Annuities & Life (FG)
Provider of annuities and life insurance across retail and institutional markets.
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Sells annuities and life insurance through independent agents, banks, and broker-dealers, plus pension risk transfer and funding agreements to institutions. Earnings center on investment spreads, with growing fee contributions from reinsurance and owned distributors; Fidelity National Financial remains the controlling shareholder.
Underwrites fixed indexed and fixed-rate annuities, registered index-linked annuities, indexed universal life insurance, immediate annuities, pension risk transfer contracts, and institutional funding agreements. Products reach U.S. retail customers through independent agents, banks, and broker-dealers, while pension and funding agreements serve institutional clients.
Earns primarily from investment spreads on insurance liabilities, supplemented by fee income from flow reinsurance and owned distributors. Matches asset and liability cash flows and emphasizes contracts protected by surrender charges to support disciplined pricing.
Operates as one reportable segment and remains majority owned by Fidelity National Financial. Blackstone supplies core investment origination and management alongside other asset managers. Growth depends on capital availability, insurer financial-strength ratings, and insurance rules governing reserves and product sales.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jan 8, 2026 | Barclays | Target | Target: $35 | Target: $31 |
| Oct 8, 2025 | Barclays | Reiterate | Rating: —Target: $45 | Target: $35 |
| Oct 7, 2025 | Piper Sandler | Target | Target: $40 | Target: $33 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.65B · Total debt $2.24B · Total assets $103.59B · Shareholders' equity $4.61B
- Revenue
- $1.42B
- Operating income
- −$94.0M
- Net income
- −$76.0M
HistoryDividendAnnual yield
| Institutions | 97.93% | 128.22M shares | |
|---|---|---|---|
| 326 holders · as of Jun 30, 2026 | |||
| Insiders | 1.69% | 2.21M shares | |
| 15 holders · as of Sep 15, 2026 | |||
| Other | 0.38% | 500.6K shares | |
| remainder | |||
130.94M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Fidelity National Financial, Inc.Institution | 72.30% | 94.66M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 2.58% | 3.38M | as of Jun 30, 2026 |
Brave Warrior Advisors, LLCInstitution | 1.90% | 2.48M | as of Jun 30, 2026 |
Bank of America Corp /DE/Institution | 1.70% | 2.22M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 1.63% | 2.14M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 13, 2026 | Christopher O. Blunt | director, officer: Chief Executive Officer | +10,000 | $20.99 |
| Mar 13, 2026 | Celina J. Wang Doka | director | +4,760 | $20.98 |
| Jan 2, 2026 | Christopher O. Blunt | director, officer: Chief Executive Officer | +5,000 | $29.56 |
| Nov 19, 2025 | Christopher O. Blunt | director, officer: Chief Executive Officer | +5,000 | $29.88 |
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CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| F&G Annuities & Life | $22.22 | −0.04% | $3.03B | 7.9 | 5.5 | 0.5 | +5.8% |
| Apollo Global Management | $124.95 | +0.60% | $73.67B | 28.6 | 12.7 | 2.0 | +63.7% |
| Corebridge Financial | $33.55 | −0.86% | $15.51B | 20.4 | 6.6 | 1.7 | +482.9% |
| Jackson Financial | $129.57 | −0.08% | $9.20B | 169.1 | 4.3 | 1.4 | — |
| Brighthouse Financial | $52.39 | +0.92% | $2.86B | 3.9 | 2.7 | 0.5 | +166.5% |
| Equitable | $52.20 | −0.08% | $14.70B | — | 6.4 | 1.4 | −29.8% |
| Lincoln Financial | $41.01 | +0.02% | $7.98B | 3.5 | 5.0 | 0.4 | +21.2% |
| Prudential Financial | $117.66 | +0.02% | $41.13B | 10.7 | 8.3 | 0.6 | +2.8% |
| Median | 15.5 | 6.4 | 1.4 | +42.4% |