Zacks Investment Research upgraded shares of FBL Financial Group, Inc. (NYSE:FFG) from a hold rating to a buy rating in a research report report published on Tuesday morning. The brokerage currently has $77.00 price objective 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 analysts also recently commented on FFG. BidaskClub upgraded FBL Financial Group from a strong sell rating to a sell rating in a report on Tuesday, June 13th. Raymond James Financial, Inc. upgraded FBL Financial Group from an underperform rating to a market perform rating in a report on Wednesday, August 9th.
FBL Financial Group (FFG) opened at 68.80 on Tuesday. The firm has a 50-day moving average price of $69.03 and a 200-day moving average price of $65.90. FBL Financial Group has a one year low of $59.75 and a one year high of $82.60. The firm has a market cap of $1.72 billion, a PE ratio of 14.92 and a beta of 0.87.
FBL Financial Group (NYSE:FFG) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.19. The firm had revenue of $189.00 million for the quarter, compared to the consensus estimate of $181.63 million. FBL Financial Group had a return on equity of 9.12% and a net margin of 15.70%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 earnings per share. On average, equities analysts expect 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. Stockholders of record on Friday, September 15th will be issued a $0.44 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.76 annualized dividend and a dividend yield of 2.56%. FBL Financial Group’s dividend payout ratio is currently 38.18%.
In other news, Director Scott Vanderwal sold 2,000 shares of FBL Financial Group stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $70.46, for a total value of $140,920.00. Following the transaction, the director now owns 4,000 shares in the company, valued at $281,840. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of 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 during the period. Victory Capital Management Inc. increased its holdings in shares of 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 during the period. Northern Trust Corp increased its holdings in shares of 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 during the period. State Street Corp increased its holdings 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 worth $12,343,000 after buying an additional 14,722 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 28.58% of the company’s stock.
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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