FBL Financial Group, Inc. (FFG) Lifted to Buy at 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 note issued on Friday. The firm currently has a $79.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.57% 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. “
A number of other equities analysts have also recently commented on FFG. Raymond James Financial, Inc. raised FBL Financial Group from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 9th. ValuEngine raised FBL Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, September 13th. Finally, BidaskClub upgraded FBL Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th.
FBL Financial Group (NYSE:FFG) traded up 1.35% during trading on Friday, reaching $71.45. The company’s stock had a trading volume of 11,832 shares. FBL Financial Group has a one year low of $59.75 and a one year high of $82.60. The stock has a 50-day moving average of $69.42 and a 200 day moving average of $65.93. The firm has a market capitalization of $1.78 billion, a P/E ratio of 15.50 and a beta of 0.87.
FBL Financial Group (NYSE:FFG) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.19. FBL Financial Group had a return on equity of 9.12% and a net margin of 15.70%. The company had revenue of $189.00 million during the quarter, compared to analysts’ expectations of $181.63 million. During the same quarter in the prior year, the firm posted $1.02 EPS. FBL Financial Group’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that FBL Financial Group will post $4.45 EPS for the current fiscal year.
In other 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 value of $140,920.00. Following the completion of the sale, the director now directly owns 4,000 shares in the company, valued at $281,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of FFG. BNP Paribas Arbitrage SA grew its position 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 worth $127,000 after acquiring an additional 1,187 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in FBL Financial Group in the second quarter worth approximately $200,000. Legal & General Group Plc grew its position 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 worth $272,000 after acquiring an additional 1,134 shares during the period. Voya Investment Management LLC grew its position in FBL Financial Group by 10.8% in the second quarter. Voya Investment Management LLC now owns 6,305 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 617 shares during the period. Finally, American International Group Inc. grew its position 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 worth $397,000 after acquiring an additional 408 shares during the period. Institutional investors and hedge funds own 28.58% 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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