FBL Financial Group (NYSE:FFG) Raised to “Hold” at Zacks Investment Research

FBL Financial Group (NYSE:FFG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, June 18th.

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, ValuEngine downgraded FBL Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th.

Shares of FBL Financial Group opened at $79.60 on Monday, MarketBeat reports. The firm has a market cap of $1.98 billion, a PE ratio of 18.39 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.03 and a current ratio of 0.03. FBL Financial Group has a 1 year low of $60.00 and a 1 year high of $85.00.

FBL Financial Group (NYSE:FFG) last announced its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.12). The business had revenue of $182.18 million for the quarter, compared to the consensus estimate of $186.39 million. FBL Financial Group had a net margin of 26.03% and a return on equity of 8.43%. research analysts predict that FBL Financial Group will post 4.83 earnings per share for the current fiscal year.

FBL Financial Group declared that its board has authorized a share repurchase plan on Thursday, March 1st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas bought a new position in FBL Financial Group in the fourth quarter valued at about $270,000. Barclays PLC lifted its holdings in FBL Financial Group by 149.8% in the first quarter. Barclays PLC now owns 4,087 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 2,451 shares during the period. MetLife Investment Advisors LLC bought a new position in FBL Financial Group in the fourth quarter valued at about $334,000. American Century Companies Inc. bought a new position in FBL Financial Group in the fourth quarter valued at about $347,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its holdings in FBL Financial Group by 30.4% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 7,300 shares of the financial services provider’s stock valued at $508,000 after acquiring an additional 1,700 shares during the period. 29.56% of the stock is currently owned by institutional investors.

About FBL Financial Group

FBL Financial Group, Inc, through its subsidiaries, sells individual life insurance and annuity products. The Annuity segment sells various traditional annuity products that primarily consist of fixed rate and indexed annuities, and supplementary contracts. The Life Insurance segment offers whole life, term life, and universal life policies.

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