FBL Financial Group, Inc. (FFG) Stock Rating Upgraded by Zacks Investment Research
FBL Financial Group, Inc. (NYSE:FFG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $79.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.57% from the stock’s previous close.
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 research firms have also recently issued reports on FFG. BidaskClub cut shares of FBL Financial Group from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Raymond James Financial, Inc. upgraded shares of FBL Financial Group from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 9th. Finally, ValuEngine upgraded shares of FBL Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th.
FBL Financial Group (NYSE:FFG) opened at 71.45 on Friday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 15.50 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’s 50 day moving average is $69.42 and its 200-day moving average is $65.93.
FBL Financial Group (NYSE:FFG) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.19. The company had revenue of $189.00 million during the quarter, compared to analysts’ expectations of $181.63 million. FBL Financial Group had a net margin of 15.70% and a return on equity of 9.12%. FBL Financial Group’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS. On average, analysts anticipate that FBL Financial Group will post $4.45 earnings per share for the current fiscal year.
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In other FBL Financial Group news, Director Scott Vanderwal sold 2,000 shares of FBL Financial Group stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $70.46, for a total value of $140,920.00. Following the completion of the sale, the director now owns 4,000 shares in the company, valued at approximately $281,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of FFG. Victory Capital Management Inc. raised its stake in FBL Financial Group by 40.2% in the 1st quarter. Victory Capital Management Inc. now owns 602,015 shares of the financial services provider’s stock worth $39,401,000 after purchasing an additional 172,702 shares in the last quarter. Vanguard Group Inc. raised its stake in FBL Financial Group by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 859,699 shares of the financial services provider’s stock worth $56,268,000 after purchasing an additional 50,460 shares in the last quarter. Renaissance Technologies LLC raised its stake in FBL Financial Group by 162.9% in the 1st quarter. Renaissance Technologies LLC now owns 71,500 shares of the financial services provider’s stock worth $4,680,000 after purchasing an additional 44,300 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in FBL Financial Group by 55.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 74,402 shares of the financial services provider’s stock worth $4,576,000 after purchasing an additional 26,440 shares in the last quarter. Finally, State Street Corp raised its stake in FBL Financial Group by 7.9% in the 2nd quarter. State Street Corp now owns 200,717 shares of the financial services provider’s stock worth $12,343,000 after purchasing an additional 14,722 shares in the last quarter. Institutional investors and hedge funds 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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