FBL Financial Group, Inc. (FFG) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of FBL Financial Group, Inc. (NYSE:FFG) from a hold rating to a buy rating in a report issued on Thursday morning. Zacks Investment Research currently has $76.00 price target on the financial services provider’s stock.
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 commented on FFG. BidaskClub lowered shares of FBL Financial Group from a sell rating to a strong sell rating in a research note on Friday, June 23rd. Raymond James Financial, Inc. raised shares of FBL Financial Group from an underperform rating to a market perform rating in a research note on Wednesday, August 9th.
FBL Financial Group (NYSE:FFG) traded up 0.51% during midday trading on Thursday, hitting $68.35. 3,974 shares of the stock were exchanged. The firm’s 50-day moving average is $68.62 and its 200 day moving average is $66.04. FBL Financial Group has a 52 week low of $59.75 and a 52 week high of $82.60. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 14.83 and a beta of 0.88.
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 (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.19. The business had revenue of $189 million during the quarter, compared to analysts’ expectations of $181.63 million. FBL Financial Group had a net margin of 15.70% and a return on equity of 9.12%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.02 earnings per share. Equities research analysts expect that FBL Financial Group will post $4.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.59%. FBL Financial Group’s dividend payout ratio (DPR) is presently 38.18%.
In related news, Director Scott Vanderwal sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $70.46, for a total value of $140,920.00. Following the completion of the sale, the director now owns 4,000 shares in the company, valued at approximately $281,840. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of FBL Financial Group during the second quarter valued at approximately $200,000. State Street Corp increased its stake in shares of FBL Financial Group by 7.9% in the second quarter. State Street Corp now owns 200,717 shares of the financial services provider’s stock valued at $12,343,000 after buying an additional 14,722 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of FBL Financial Group by 55.1% in the second quarter. Goldman Sachs Group Inc. now owns 74,402 shares of the financial services provider’s stock valued at $4,576,000 after buying an additional 26,440 shares during the period. Voya Investment Management LLC increased its stake in shares of FBL Financial Group by 10.8% in the second 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 period. Finally, Citadel Advisors LLC increased its stake in shares of FBL Financial Group by 22.6% in the second quarter. Citadel Advisors LLC now owns 9,853 shares of the financial services provider’s stock valued at $606,000 after buying an additional 1,819 shares during the period. Institutional investors and hedge funds own 28.58% 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. 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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