FBL Financial Group (NYSE:FFG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Friday. The brokerage presently has a $83.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.77% from the company’s current price.
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, ValuEngine lowered shares of FBL Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th.
FBL Financial Group (NYSE:FFG) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.09). The business had revenue of $181.56 million during the quarter, compared to the consensus estimate of $184.51 million. FBL Financial Group had a net margin of 15.30% and a return on equity of 8.93%. FBL Financial Group’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 EPS. equities analysts predict that FBL Financial Group will post 4.35 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of FBL Financial Group during the 3rd quarter worth approximately $149,000. OxFORD Asset Management LLP purchased a new position in FBL Financial Group in the 3rd quarter valued at approximately $337,000. Schwab Charles Investment Management Inc. grew its stake in FBL Financial Group by 5.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 49,915 shares of the financial services provider’s stock valued at $3,719,000 after buying an additional 2,525 shares in the last quarter. Wells Fargo & Company MN grew its stake in FBL Financial Group by 17.7% in the 3rd quarter. Wells Fargo & Company MN now owns 46,715 shares of the financial services provider’s stock valued at $3,481,000 after buying an additional 7,023 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in FBL Financial Group by 9.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,942 shares of the financial services provider’s stock valued at $895,000 after buying an additional 1,045 shares in the last quarter. Institutional investors own 27.75% of the company’s stock.
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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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