FBL Financial Group, Inc. (FFG) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research lowered shares of FBL Financial Group, Inc. (NYSE:FFG) from a buy rating to a hold rating in a research note released 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. “
Several other research firms have also recently weighed in on FFG. Raymond James Financial, Inc. raised FBL Financial Group from an underperform rating to a market perform rating in a research report on Wednesday, August 9th. ValuEngine raised FBL Financial Group from a hold rating to a buy rating in a research report on Wednesday, September 13th. Finally, BidaskClub raised FBL Financial Group from a sell rating to a hold rating in a research report on Tuesday, July 11th.
FBL Financial Group (FFG) opened at 76.70 on Tuesday. The firm’s 50-day moving average price is $70.95 and its 200 day moving average price is $66.75. The company has a market cap of $1.91 billion, a PE ratio of 16.64 and a beta of 0.89. FBL Financial Group has a 52-week low of $59.75 and a 52-week high of $82.60.
FBL Financial Group (NYSE:FFG) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.19. FBL Financial Group had a return on equity of 9.12% and a net margin of 15.70%. The business had revenue of $189.00 million for the quarter, compared to analysts’ expectations of $181.63 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts predict that FBL Financial Group will post $4.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.29%. FBL Financial Group’s dividend payout ratio is presently 38.18%.
In other news, Director Scott Vanderwal sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $70.46, for a total transaction of $140,920.00. Following the transaction, the director now owns 4,000 shares of the company’s stock, valued at approximately $281,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its position in shares of FBL Financial Group by 134.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,068 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,187 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of FBL Financial Group during the 2nd quarter valued at $200,000. Legal & General Group Plc lifted its position in shares of FBL Financial Group by 34.5% during the 2nd quarter. Legal & General Group Plc now owns 4,417 shares of the financial services provider’s stock valued at $272,000 after buying an additional 1,134 shares during the last quarter. American International Group Inc. lifted its position in shares of FBL Financial Group by 7.2% during the 1st quarter. American International Group Inc. now owns 6,063 shares of the financial services provider’s stock valued at $397,000 after buying an additional 408 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of FBL Financial Group by 10.8% during the 2nd quarter. Voya Investment Management LLC now owns 6,305 shares of the financial services provider’s stock valued at $388,000 after buying an additional 617 shares during the last quarter. 28.58% of the stock is currently owned by hedge funds and other institutional investors.
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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