Zacks Investment Research Downgrades FBL Financial Group, Inc. (FFG) to Hold

FBL Financial Group, Inc. (NYSE:FFG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “

FFG has been the topic of a number of other research reports. Raymond James Financial, Inc. upgraded FBL Financial Group from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 9th. BidaskClub upgraded FBL Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th.

Shares of FBL Financial Group (NYSE FFG) traded up 1.77% during midday trading on Monday, reaching $69.10. 16,407 shares of the company’s stock traded hands. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 14.99 and a beta of 0.87. The stock has a 50 day moving average of $69.03 and a 200-day moving average of $65.91. FBL Financial Group has a 52-week low of $59.75 and a 52-week high of $82.60.

FBL Financial Group (NYSE:FFG) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $1.23 earnings per share 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 company had revenue of $189 million during the quarter, compared to the consensus estimate of $181.63 million. During the same quarter last year, the firm earned $1.02 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect 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 on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in FBL Financial Group by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 88,010 shares of the financial services provider’s stock valued at $5,761,000 after acquiring an additional 3,674 shares during the last quarter. Swiss National Bank grew its position in FBL Financial Group by 3.4% in the first quarter. Swiss National Bank now owns 18,400 shares of the financial services provider’s stock valued at $1,204,000 after acquiring an additional 600 shares during the last quarter. Goldman Sachs Group Inc. grew its position in FBL Financial Group by 37.0% in the first quarter. Goldman Sachs Group Inc. now owns 47,962 shares of the financial services provider’s stock valued at $3,139,000 after acquiring an additional 12,959 shares during the last quarter. Victory Capital Management Inc. grew its position in FBL Financial Group by 40.2% in the first quarter. Victory Capital Management Inc. now owns 602,015 shares of the financial services provider’s stock valued at $39,401,000 after acquiring an additional 172,702 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in FBL Financial Group by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 21,834 shares of the financial services provider’s stock valued at $1,706,000 after acquiring an additional 586 shares during the last quarter. Institutional investors 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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