FBL Financial Group (NYSE:FFG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
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. “
Separately, Raymond James Financial, Inc. lowered shares of FBL Financial Group from a “mkt perform” rating to an “underperform” rating in a research note on Friday, January 20th.
Shares of FBL Financial Group (NYSE:FFG) traded up 1.39% during midday trading on Friday, reaching $65.45. The company’s stock had a trading volume of 113,137 shares. The stock has a 50-day moving average price of $67.57 and a 200 day moving average price of $69.95. FBL Financial Group has a 52 week low of $56.41 and a 52 week high of $82.60. The stock has a market capitalization of $1.63 billion, a PE ratio of 15.29 and a beta of 1.03.
FBL Financial Group (NYSE:FFG) last released its quarterly earnings data on Thursday, February 9th. The company reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.08 by $0.06. FBL Financial Group had a return on equity of 8.50% and a net margin of 14.76%. The business earned $184.20 million during the quarter, compared to analysts’ expectations of $175.79 million. During the same period last year, the company earned $1.04 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. Equities analysts forecast that FBL Financial Group will post $4.23 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a $0.44 dividend. The ex-dividend date is Monday, March 13th. This is a positive change from FBL Financial Group’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 2.69%. FBL Financial Group’s dividend payout ratio is 39.25%.
A number of hedge funds have recently added to or reduced their stakes in FFG. Daido Life Insurance Co. acquired a new stake in shares of FBL Financial Group during the fourth quarter valued at approximately $29,227,000. Victory Capital Management Inc. boosted its stake in shares of FBL Financial Group by 25.9% in the third quarter. Victory Capital Management Inc. now owns 392,468 shares of the company’s stock valued at $25,107,000 after buying an additional 80,825 shares during the period. Citadel Advisors LLC acquired a new stake in shares of FBL Financial Group during the third quarter valued at approximately $582,000. Ameriprise Financial Inc. boosted its stake in shares of FBL Financial Group by 0.6% in the third quarter. Ameriprise Financial Inc. now owns 135,225 shares of the company’s stock valued at $8,650,000 after buying an additional 863 shares during the period. Finally, Keybank National Association OH boosted its stake in shares of FBL Financial Group by 4.3% in the fourth quarter. Keybank National Association OH now owns 12,000 shares of the company’s stock valued at $938,000 after buying an additional 500 shares during the period. 27.20% of the stock is owned by 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, which is represented by the distribution channel of its subsidiary, Farm Bureau Life Insurance Company (Farm Bureau Life). The Company’s segments are Annuity Segment, which sells a variety of traditional annuity products; Life Insurance Segment, which sells a variety 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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