FBL Financial Group, Inc. (NYSE:FFG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, August 31st. The brokerage currently has a $76.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 9.12% from the company’s current price.
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 have also issued reports on FFG. Raymond James Financial, Inc. raised shares of FBL Financial Group from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 9th. BidaskClub raised shares of FBL Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th.
Shares of FBL Financial Group (FFG) traded down 0.07% during midday trading on Thursday, hitting $69.60. 34,467 shares of the stock were exchanged. The company has a market cap of $1.74 billion, a PE ratio of 15.10 and a beta of 0.87. FBL Financial Group has a 12 month low of $59.75 and a 12 month high of $82.60. The stock has a 50 day moving average price of $69.21 and a 200-day moving average price of $65.96.
FBL Financial Group (NYSE:FFG) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $1.23 EPS for the quarter, topping the 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 company had revenue of $189.00 million during the quarter, compared to analysts’ expectations of $181.63 million. During the same period last year, the company posted $1.02 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts predict that FBL Financial Group will post $4.45 EPS for the current year.
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In related news, Director Scott Vanderwal sold 2,000 shares of the firm’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 transaction of $140,920.00. Following the transaction, the director now owns 4,000 shares of the company’s stock, valued at $281,840. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in FBL Financial Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 875,833 shares of the financial services provider’s stock valued at $53,863,000 after purchasing an additional 16,134 shares during the last quarter. Victory Capital Management Inc. grew its holdings in FBL Financial Group by 2.9% during the second quarter. Victory Capital Management Inc. now owns 619,310 shares of the financial services provider’s stock valued at $38,087,000 after purchasing an additional 17,295 shares during the last quarter. Northern Trust Corp grew its holdings in FBL Financial Group by 3.1% during the second quarter. Northern Trust Corp now owns 309,442 shares of the financial services provider’s stock valued at $19,030,000 after purchasing an additional 9,175 shares during the last quarter. State Street Corp grew its holdings in FBL Financial Group by 7.9% during the second quarter. State Street Corp now owns 200,717 shares of the financial services provider’s stock valued at $12,343,000 after purchasing an additional 14,722 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in FBL Financial Group by 0.8% during the second quarter. Ameriprise Financial Inc. now owns 131,385 shares of the financial services provider’s stock valued at $8,080,000 after purchasing an additional 1,000 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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