FBL Financial Group, Inc. (FFG) Stock Rating Lowered by Zacks Investment Research
FBL Financial Group, Inc. (NYSE:FFG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Other equities research analysts have also issued reports about the company. BidaskClub raised FBL Financial Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Raymond James Financial, Inc. raised FBL Financial Group from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 9th.
FBL Financial Group (FFG) traded down 0.79% during mid-day trading on Wednesday, reaching $68.75. The company’s stock had a trading volume of 13,967 shares. FBL Financial Group has a 1-year low of $59.75 and a 1-year high of $82.60. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 14.91 and a beta of 0.88. The firm has a 50-day moving average of $67.92 and a 200 day moving average of $66.03.
FBL Financial Group (NYSE:FFG) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.19. The business had revenue of $189 million for the quarter, compared to analyst estimates of $181.63 million. FBL Financial Group had a return on equity of 9.12% and a net margin of 15.70%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.02 EPS. Equities analysts expect that FBL Financial Group will post $4.45 earnings per share for the current year.
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In related news, Director Scott Vanderwal sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $70.46, for a total transaction of $140,920.00. Following the sale, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $281,840. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC increased its position in shares of FBL Financial Group by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 21,834 shares of the financial services provider’s stock worth $1,706,000 after buying an additional 586 shares during the last quarter. Eqis Capital Management Inc. increased its position in shares of 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 worth $275,000 after buying an additional 277 shares during the last quarter. First Trust Advisors LP increased its position in shares of FBL Financial Group by 33.4% in the first quarter. First Trust Advisors LP now owns 17,714 shares of the financial services provider’s stock worth $1,159,000 after buying an additional 4,432 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of FBL Financial Group by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 88,010 shares of the financial services provider’s stock worth $5,761,000 after buying an additional 3,674 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of FBL Financial Group by 3.4% in the first quarter. Swiss National Bank now owns 18,400 shares of the financial services provider’s stock worth $1,204,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 29.41% of the company’s stock.
About FBL Financial Group
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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