FBL Financial Group Inc. (FFG) Upgraded by Zacks Investment Research to “Hold”
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) opened at 64.23 on Tuesday. FBL Financial Group has a 52-week low of $55.18 and a 52-week high of $69.80. The firm has a 50-day moving average of $64.28 and a 200 day moving average of $62.01. The company has a market capitalization of $1.60 billion, a P/E ratio of 14.90 and a beta of 1.12.
FBL Financial Group (NYSE:FFG) last issued its earnings results on Thursday, August 4th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by $0.01. The business earned $181.30 million during the quarter, compared to the consensus estimate of $176.97 million. FBL Financial Group had a net margin of 15.00% and a return on equity of 8.88%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $1.11 EPS. On average, analysts anticipate that FBL Financial Group will post $4.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Tuesday, September 13th. FBL Financial Group’s payout ratio is 38.98%.
In related news, Director Scott Vanderwal sold 2,000 shares of FBL Financial Group stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $64.87, for a total transaction of $129,740.00. Following the transaction, the director now owns 4,000 shares of the company’s stock, valued at approximately $259,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.63% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FFG. BlackRock Inc. increased its stake in shares of FBL Financial Group by 264.0% in the second quarter. BlackRock Inc. now owns 3,225 shares of the company’s stock valued at $195,000 after buying an additional 2,339 shares during the period. M&T Bank Corp increased its stake in shares of FBL Financial Group by 5.3% in the second quarter. M&T Bank Corp now owns 4,268 shares of the company’s stock valued at $259,000 after buying an additional 213 shares during the period. Eqis Capital Management Inc. increased its stake in shares of FBL Financial Group by 21.1% in the third quarter. Eqis Capital Management Inc. now owns 4,481 shares of the company’s stock valued at $287,000 after buying an additional 781 shares during the period. BlackRock Advisors LLC increased its stake in shares of FBL Financial Group by 6.2% in the second quarter. BlackRock Advisors LLC now owns 4,807 shares of the company’s stock valued at $292,000 after buying an additional 279 shares during the period. Finally, American International Group Inc. increased its stake in shares of FBL Financial Group by 0.6% in the second quarter. American International Group Inc. now owns 5,662 shares of the company’s stock valued at $344,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 27.57% of the company’s stock.
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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