Zacks Investment Research lowered shares of FBL Financial Group, Inc. (NYSE:FFG) from a buy rating to a hold rating in a report published 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 analysts also recently issued reports on FFG. BidaskClub raised shares of FBL Financial Group from a strong sell rating to a sell rating in a report on Tuesday, June 13th. Raymond James Financial, Inc. raised shares of FBL Financial Group from an underperform rating to a market perform rating in a report on Wednesday, August 9th.
Shares of FBL Financial Group (FFG) traded up 0.14% during mid-day trading on Monday, reaching $69.75. 19,254 shares of the company’s stock were exchanged. The stock has a market capitalization of $1.74 billion, a PE ratio of 15.13 and a beta of 0.87. FBL Financial Group has a 1-year low of $59.75 and a 1-year high of $82.60. The company’s 50 day moving average is $69.21 and its 200 day moving average is $65.96.
FBL Financial Group (NYSE:FFG) last announced its quarterly 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 net margin of 15.70% and a return on equity of 9.12%. The firm had revenue of $189.00 million for the quarter, compared to the consensus estimate of $181.63 million. During the same period in the prior year, the firm posted $1.02 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that FBL Financial Group will post $4.45 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, September 14th. FBL Financial Group’s payout ratio is 38.18%.
In other FBL Financial Group news, Director Scott Vanderwal sold 2,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $70.46, for a total transaction of $140,920.00. Following the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $281,840. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its holdings in FBL Financial Group by 134.7% during the second quarter. BNP Paribas Arbitrage SA now owns 2,068 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 1,187 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in FBL Financial Group during the second quarter valued at $200,000. Eqis Capital Management Inc. lifted its holdings in FBL Financial Group by 7.1% during the first quarter. Eqis Capital Management Inc. now owns 4,203 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 277 shares in the last quarter. Legal & General Group Plc lifted its holdings in FBL Financial Group by 34.5% during the second quarter. Legal & General Group Plc now owns 4,417 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 1,134 shares in the last quarter. Finally, American International Group Inc. lifted its holdings in FBL Financial Group by 7.2% during the first quarter. American International Group Inc. now owns 6,063 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 408 shares in the last quarter. 28.58% of the stock is currently owned by institutional investors and hedge funds.
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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