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 “hold” rating to a “sell” rating in a research report issued on Tuesday.
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. “
Shares of FBL Financial Group (NYSE:FFG) traded down 0.10% during mid-day trading on Tuesday, hitting $62.74. The company had a trading volume of 51,672 shares. The firm has a 50-day moving average price of $64.46 and a 200 day moving average price of $61.72. FBL Financial Group has a 52-week low of $55.18 and a 52-week high of $69.80. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 14.56 and a beta of 1.12.
FBL Financial Group (NYSE:FFG) last announced its earnings results on Thursday, August 4th. The company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by $0.01. FBL Financial Group had a net margin of 15.00% and a return on equity of 8.88%. The firm had revenue of $181.30 million for the quarter, compared to analyst estimates of $176.97 million. During the same period in the previous year, the company earned $1.11 EPS. FBL Financial Group’s revenue was down 2.9% compared to the same quarter last year. Analysts expect that FBL Financial Group will post $4.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.42 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.68%. FBL Financial Group’s payout ratio is currently 38.98%.
In other FBL Financial Group news, Director Scott Vanderwal sold 2,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $64.87, for a total transaction of $129,740.00. Following the completion of the transaction, the director now owns 4,000 shares of the company’s stock, valued at $259,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Aperio Group LLC boosted its position in shares of FBL Financial Group by 14.5% in the first quarter. Aperio Group LLC now owns 19,276 shares of the company’s stock worth $1,186,000 after buying an additional 2,442 shares during the last quarter. IFP Advisors Inc bought a new stake in FBL Financial Group during the first quarter worth about $160,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in FBL Financial Group by 1.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 28,606 shares of the company’s stock worth $1,760,000 after buying an additional 275 shares during the period. Teachers Advisors Inc. raised its stake in FBL Financial Group by 17.1% in the first quarter. Teachers Advisors Inc. now owns 23,713 shares of the company’s stock worth $1,459,000 after buying an additional 3,468 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in FBL Financial Group by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 247,034 shares of the company’s stock worth $15,198,000 after buying an additional 2,263 shares during the period. 27.56% of the stock is owned by institutional investors and hedge funds.
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, which is represented by the distribution channel of its subsidiary, Farm Bureau Life Insurance Company (Farm Bureau Life). The Company’s segments are Annuity Segment, which sells a variety of traditional annuity products; Life Insurance Segment, which sells a variety 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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