FBL Financial Group, Inc. (NYSE:FFG) Downgraded to “Hold” at Zacks Investment Research
FBL Financial Group, Inc. (NYSE:FFG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
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. “
A number of other research firms have also recently weighed in on FFG. BidaskClub cut FBL Financial Group from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Raymond James Financial, Inc. raised FBL Financial Group from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 9th.
FBL Financial Group (NYSE:FFG) traded up 2.37% on Monday, reaching $71.40. The company had a trading volume of 41,831 shares. The company has a 50-day moving average of $66.52 and a 200 day moving average of $66.04. FBL Financial Group has a one year low of $59.75 and a one year high of $82.60. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 15.49 and a beta of 0.88.
FBL Financial Group (NYSE:FFG) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ 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 million during the quarter, compared to analysts’ expectations of $181.63 million. During the same period in the prior year, the firm posted $1.02 EPS. FBL Financial Group’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that FBL Financial Group will post $4.45 EPS for the current year.
In related news, Director Scott Vanderwal sold 2,000 shares of the firm’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 completion of the sale, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $281,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FFG. Vanguard Group Inc. boosted its stake in FBL Financial Group by 1.9% in the second quarter. Vanguard Group Inc. now owns 875,833 shares of the financial services provider’s stock worth $53,863,000 after buying an additional 16,134 shares in the last quarter. Victory Capital Management Inc. boosted its stake in FBL Financial Group by 2.9% in the second quarter. Victory Capital Management Inc. now owns 619,310 shares of the financial services provider’s stock worth $38,087,000 after buying an additional 17,295 shares in the last quarter. Northern Trust Corp boosted its stake in FBL Financial Group by 3.1% in the second quarter. Northern Trust Corp now owns 309,442 shares of the financial services provider’s stock worth $19,030,000 after buying an additional 9,175 shares in the last quarter. State Street Corp boosted its stake in 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 worth $12,343,000 after buying an additional 14,722 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in FBL Financial Group by 0.8% in the second quarter. Ameriprise Financial Inc. now owns 131,385 shares of the financial services provider’s stock worth $8,080,000 after buying an additional 1,000 shares in the last quarter. 29.41% of the stock is owned by hedge funds and other institutional investors.
About FBL Financial Group
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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