FBL Financial Group Inc. (FFG) Upgraded to Hold by 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 note issued 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, hitting $64.10. The stock had a trading volume of 18,904 shares. The firm has a 50-day moving average of $64.34 and a 200-day moving average of $61.99. The stock has a market cap of $1.59 billion, a P/E ratio of 14.87 and a beta of 1.12. FBL Financial Group has a 52-week low of $55.18 and a 52-week high of $69.80.
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FBL Financial Group (NYSE:FFG) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.02 EPS 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 business earned $181.30 million during the quarter, compared to analyst estimates of $176.97 million. During the same quarter in the prior year, the company posted $1.11 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. On average, analysts forecast that FBL Financial Group will post $4.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Tuesday, September 13th. FBL Financial Group’s dividend payout ratio is presently 38.98%.
In related news, Director Scott Vanderwal sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $64.87, for a total value of $129,740.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at $259,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is owned by corporate insiders.
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 in the last quarter. 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. Hedge funds and other 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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