FBL Financial Group Inc. (FFG) Lifted to “Hold” at Zacks Investment Research
FBL Financial Group Inc. (NYSE:FFG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “FBL FINANCIAL GROUP, INC. is a holding company and hrough its subsidiaries underwrites, markets and distributes life insurance, annuities, property-casualty insurance and mutual funds to individuals and small businesses in 15 midwestern and western states. The Company has exclusive marketing arrangements with the state Farm Bureau Federations in its territory and targets sales to approximately 700,000 Farm Bureau member families and other rural, small town andsuburban residents through an exclusive agency force. The Company offers a full range of life insurance products. “
FBL Financial Group (NYSE:FFG) traded up 0.61% during mid-day trading on Tuesday, reaching $64.10. 18,904 shares of the company’s stock traded hands. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 14.87 and a beta of 1.12. The firm’s 50-day moving average price is $64.34 and its 200 day moving average price is $61.99. FBL Financial Group has a one year low of $55.18 and a one year high of $69.80.
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FBL Financial Group (NYSE:FFG) last released its earnings results on Thursday, August 4th. The company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by $0.01. FBL Financial Group had a net margin of 15.00% and a return on equity of 8.88%. The firm had revenue of $181.30 million for the quarter, compared to analysts’ expectations of $176.97 million. During the same quarter last year, the firm posted $1.11 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts forecast that FBL Financial Group will post $4.18 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Tuesday, September 13th. FBL Financial Group’s dividend payout ratio (DPR) is 38.98%.
In related news, Director Scott Vanderwal sold 2,000 shares of FBL Financial Group stock in a transaction on Friday, September 9th. The shares were sold at an average price of $64.87, for a total transaction of $129,740.00. Following the transaction, the director now owns 4,000 shares in the company, valued at approximately $259,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.63% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. boosted its position in FBL Financial Group by 21.1% in the third quarter. Eqis Capital Management Inc. now owns 4,481 shares of the company’s stock worth $287,000 after buying an additional 781 shares during the period. Schwab Charles Investment Management Inc. boosted its position in FBL Financial Group by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 38,336 shares of the company’s stock worth $2,326,000 after buying an additional 726 shares during the period. Parametric Portfolio Associates LLC boosted its position in FBL Financial Group by 0.9% in the second quarter. Parametric Portfolio Associates LLC now owns 49,086 shares of the company’s stock worth $2,978,000 after buying an additional 425 shares during the period. American International Group Inc. boosted its position in FBL Financial Group by 0.6% in the second quarter. American International Group Inc. now owns 5,662 shares of the company’s stock worth $344,000 after buying an additional 31 shares during the period. Finally, Alliancebernstein L.P. boosted its position in FBL Financial Group by 5.1% in the second quarter. Alliancebernstein L.P. now owns 14,560 shares of the company’s stock worth $883,000 after buying an additional 700 shares during the period. Institutional investors own 27.57% of the company’s stock.
FBL Financial Group Company Profile
FBL Financial Group, Inc sells individual life insurance and annuity products under the brand name of Farm Bureau Financial Services, which is represented by the distribution channel of its subsidiary, Farm Bureau Life Insurance Company (Farm Bureau Life). The Company’s segments are Annuity Segment, which sells a variety of traditional annuity products; Life Insurance Segment, which sells a variety of traditional and universal life insurance products, and Corporate and Other segment, which provides various support operations, corporate capital and other product lines.
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