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FBL Financial Group (NYSE:FFG) Downgraded to "Sell" at Zacks Investment Research

Posted on Tuesday, June 30th, 2020 by MarketBeat

FBL Financial Group (NYSE:FFG) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report issued on Tuesday, Zacks.com reports.

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. "

Several other equities research analysts also recently issued reports on FFG. Sidoti began coverage on FBL Financial Group in a research report on Monday, March 16th. They issued a "buy" rating on the stock. ValuEngine downgraded FBL Financial Group from a "hold" rating to a "sell" rating in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company's stock. The stock presently has an average rating of "Hold" and a consensus target price of $42.00.

Shares of NYSE FFG traded up $0.77 during trading hours on Tuesday, hitting $35.89. 38,923 shares of the stock were exchanged, compared to its average volume of 37,703. FBL Financial Group has a one year low of $29.01 and a one year high of $65.94. The company's 50 day moving average is $35.74 and its 200 day moving average is $44.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a market capitalization of $874.60 million, a P/E ratio of 9.94 and a beta of 0.26.

FBL Financial Group (NYSE:FFG) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.85 by ($0.06). The firm had revenue of $135.26 million for the quarter, compared to the consensus estimate of $186.07 million. FBL Financial Group had a net margin of 12.69% and a return on equity of 7.79%. Research analysts anticipate that FBL Financial Group will post 4.3 earnings per share for the current fiscal year.

In related news, CAO Anthony James Aldridge sold 695 shares of FBL Financial Group stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $36.04, for a total transaction of $25,047.80. Following the sale, the chief accounting officer now directly owns 845 shares of the company's stock, valued at $30,453.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.30% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its position in FBL Financial Group by 13.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,213 shares of the financial services provider's stock worth $150,000 after buying an additional 377 shares in the last quarter. First Trust Advisors LP boosted its holdings in FBL Financial Group by 63.8% during the first quarter. First Trust Advisors LP now owns 21,650 shares of the financial services provider's stock valued at $1,010,000 after purchasing an additional 8,432 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in FBL Financial Group during the fourth quarter valued at approximately $392,000. State Street Corp boosted its holdings in FBL Financial Group by 11.7% during the first quarter. State Street Corp now owns 241,529 shares of the financial services provider's stock valued at $11,272,000 after purchasing an additional 25,209 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in FBL Financial Group by 1.5% during the first quarter. BlackRock Inc. now owns 761,526 shares of the financial services provider's stock valued at $35,541,000 after purchasing an additional 10,914 shares in the last quarter. 28.94% of the stock is currently owned by institutional investors and hedge funds.

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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