Panagora Asset Management Inc. decreased its position in shares of FBL Financial Group (NYSE:FFG) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,080 shares of the financial services provider’s stock after selling 15,737 shares during the period. Panagora Asset Management Inc. owned about 0.23% of FBL Financial Group worth $4,220,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in FBL Financial Group by 2.3% during the 2nd quarter. BlackRock Inc. now owns 666,339 shares of the financial services provider’s stock worth $52,475,000 after buying an additional 14,763 shares during the period. Zebra Capital Management LLC bought a new stake in shares of FBL Financial Group in the 2nd quarter worth about $527,000. Wells Fargo & Company MN increased its position in shares of FBL Financial Group by 46.0% in the 2nd quarter. Wells Fargo & Company MN now owns 93,748 shares of the financial services provider’s stock worth $7,382,000 after purchasing an additional 29,523 shares during the last quarter. HGK Asset Management Inc. increased its position in shares of FBL Financial Group by 19.4% in the 2nd quarter. HGK Asset Management Inc. now owns 5,356 shares of the financial services provider’s stock worth $422,000 after purchasing an additional 870 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of FBL Financial Group by 17.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,084 shares of the financial services provider’s stock worth $1,030,000 after purchasing an additional 1,946 shares during the last quarter. 29.61% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised shares of FBL Financial Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Wednesday, November 21st.
FFG opened at $67.97 on Friday. The stock has a market capitalization of $1.68 billion, a PE ratio of 14.45 and a beta of 0.91. FBL Financial Group has a 1-year low of $64.00 and a 1-year high of $85.70. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.08.
FBL Financial Group (NYSE:FFG) last released its earnings results on Thursday, November 1st. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.06. The company had revenue of $188.11 million during the quarter, compared to the consensus estimate of $185.05 million. FBL Financial Group had a net margin of 26.31% and a return on equity of 9.24%. On average, equities analysts expect that FBL Financial Group will post 4.85 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, December 13th. FBL Financial Group’s payout ratio is currently 42.59%.
FBL Financial Group Profile
FBL Financial Group, Inc, through its subsidiaries, sells individual life insurance and annuity products. The Annuity segment sells various traditional annuity products that primarily consist of fixed rate and indexed annuities, and supplementary contracts. The Life Insurance segment offers whole life, term life, and universal life policies.
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