FBL Financial Group Inc. (NYSE:FFG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $89.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 13.02% from the company’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. “

Shares of FBL Financial Group (NYSE:FFG) opened at 78.75 on Tuesday. FBL Financial Group has a 12 month low of $55.18 and a 12 month high of $80.00. The firm’s 50-day moving average is $67.53 and its 200-day moving average is $63.69. The company has a market cap of $1.96 billion, a PE ratio of 17.74 and a beta of 0.94.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.13%. The ex-dividend date is Tuesday, December 13th. FBL Financial Group’s payout ratio is 37.84%.

In other news, Director Scott Vanderwal sold 2,000 shares of FBL Financial Group stock in a transaction 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 completion of the sale, the director now directly 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 is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.

Several hedge funds have recently bought and sold shares of FFG. BlackRock Inc. increased its stake in FBL Financial Group by 264.0% in the second quarter. BlackRock Inc. now owns 3,225 shares of the company’s stock worth $195,000 after buying an additional 2,339 shares in the last quarter. M&T Bank Corp increased its stake in FBL Financial Group by 5.3% in the second quarter. M&T Bank Corp now owns 4,268 shares of the company’s stock worth $259,000 after buying an additional 213 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in FBL Financial Group during the third quarter worth about $275,000. Eqis Capital Management Inc. increased its stake in FBL Financial Group by 21.1% in the third quarter. Eqis Capital Management Inc. now owns 4,481 shares of the company’s stock worth $287,000 after buying an additional 781 shares in the last quarter. Finally, BlackRock Advisors LLC increased its stake in FBL Financial Group by 6.2% in the second quarter. BlackRock Advisors LLC now owns 4,807 shares of the company’s stock worth $292,000 after buying an additional 279 shares in the last quarter. 27.46% of the stock is owned by institutional investors.

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About FBL Financial Group

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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