FBL Financial Group, Inc. (FFG) Upgraded to Buy by Zacks Investment Research
FBL Financial Group, Inc. (NYSE:FFG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $78.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 5.41% from the stock’s previous close.
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. “
Separately, BidaskClub raised shares of FBL Financial Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th.
Shares of FBL Financial Group (NYSE:FFG) traded up 6.47% during trading on Tuesday, reaching $74.00. 64,343 shares of the company traded hands. The stock has a market capitalization of $1.84 billion, a P/E ratio of 17.25 and a beta of 0.88. FBL Financial Group has a 12-month low of $59.75 and a 12-month high of $82.60. The firm’s 50 day moving average is $64.73 and its 200-day moving average is $66.04.
FBL Financial Group (NYSE:FFG) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.04 by $0.19. FBL Financial Group had a net margin of 15.70% and a return on equity of 9.12%. The business had revenue of $189 million for the quarter, compared to analyst estimates of $181.63 million. During the same quarter in the previous year, the firm posted $1.02 earnings per share. FBL Financial Group’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that FBL Financial Group will post $4.35 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in FBL Financial Group by 134.7% in the second quarter. BNP Paribas Arbitrage SA now owns 2,068 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,187 shares during the last quarter. Legal & General Group Plc boosted its stake in FBL Financial Group by 34.5% in the second quarter. Legal & General Group Plc now owns 4,417 shares of the financial services provider’s stock valued at $272,000 after buying an additional 1,134 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in FBL Financial Group by 7.1% in the first quarter. Eqis Capital Management Inc. now owns 4,203 shares of the financial services provider’s stock valued at $275,000 after buying an additional 277 shares during the last quarter. American International Group Inc. boosted its stake in FBL Financial Group by 7.2% in the first quarter. American International Group Inc. now owns 6,063 shares of the financial services provider’s stock valued at $397,000 after buying an additional 408 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in FBL Financial Group during the second quarter valued at $422,000. Hedge funds and other institutional investors own 29.37% 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. The Company’s segments are Annuity Segment, which sells a variety of traditional annuity products; Life Insurance Segment, which sells a range 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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