Zacks Investment Research cut shares of FBL Financial Group, Inc. (NYSE:FFG) from a buy rating to a hold rating in a research note published on Monday, July 17th.
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, BidaskClub upgraded shares of FBL Financial Group from a sell rating to a hold rating in a report on Tuesday, July 11th.
FBL Financial Group (NYSE FFG) opened at 71.60 on Monday. The company’s 50 day moving average is $64.29 and its 200-day moving average is $65.99. The firm has a market cap of $1.78 billion, a P/E ratio of 16.69 and a beta of 0.88. 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 issued its earnings results on Thursday, August 3rd. The financial services provider reported $1.23 earnings per share (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 9.16%. The firm had revenue of $189 million for the quarter, compared to analysts’ expectations of $181.63 million. During the same quarter last year, the business earned $1.02 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts predict that FBL Financial Group will post $4.25 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in FFG. BNP Paribas Arbitrage SA boosted its stake in shares of FBL Financial Group by 134.7% in the second quarter. BNP Paribas Arbitrage SA now owns 2,068 shares of the financial services provider’s stock worth $127,000 after buying an additional 1,187 shares during the period. Legal & General Group Plc boosted its stake in shares of FBL Financial Group by 34.5% in the second quarter. Legal & General Group Plc now owns 4,417 shares of the financial services provider’s stock worth $272,000 after buying an additional 1,134 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of FBL Financial Group by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 90,260 shares of the financial services provider’s stock worth $5,551,000 after buying an additional 2,250 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of FBL Financial Group by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 47,390 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 503 shares during the period. Finally, Strs Ohio boosted its stake in shares of FBL Financial Group by 5.7% in the second quarter. Strs Ohio now owns 11,100 shares of the financial services provider’s stock worth $682,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 29.37% 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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