FBL Financial Group (FFG) Upgraded to “Strong-Buy” at Zacks Investment Research

FBL Financial Group (NYSE:FFG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $83.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.77% from the company’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. “

Separately, ValuEngine raised FBL Financial Group from a “hold” rating to a “buy” rating in a report on Friday, December 1st.

Shares of FBL Financial Group (NYSE:FFG) opened at $73.60 on Friday. FBL Financial Group has a 52 week low of $59.75 and a 52 week high of $79.70. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1,805.15, a price-to-earnings ratio of 16.39 and a beta of 0.89.

FBL Financial Group (NYSE:FFG) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.09). FBL Financial Group had a net margin of 15.30% and a return on equity of 8.93%. The business had revenue of $181.56 million during the quarter, compared to analyst estimates of $184.51 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. equities research analysts predict that FBL Financial Group will post 4.35 EPS for the current year.

Several hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC purchased a new position in shares of FBL Financial Group during the third quarter worth about $149,000. OxFORD Asset Management LLP purchased a new position in shares of FBL Financial Group during the third quarter worth about $337,000. Schwab Charles Investment Management Inc. grew its holdings in shares of FBL Financial Group by 5.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 49,915 shares of the financial services provider’s stock worth $3,719,000 after purchasing an additional 2,525 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of FBL Financial Group by 17.7% during the third quarter. Wells Fargo & Company MN now owns 46,715 shares of the financial services provider’s stock worth $3,481,000 after purchasing an additional 7,023 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of FBL Financial Group by 9.6% during the third quarter. JPMorgan Chase & Co. now owns 11,942 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 1,045 shares during the last quarter. 27.75% of the stock is currently owned by institutional investors.

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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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