Zacks Investment Research Downgrades FBL Financial Group (NYSE:FFG) to Sell

FBL Financial Group (NYSE:FFG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, 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. “

A number of other equities analysts also recently issued reports on the company. TheStreet downgraded FBL Financial Group from a “b” rating to a “c+” rating in a report on Monday, August 5th. Raymond James downgraded FBL Financial Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, August 6th. Finally, ValuEngine upgraded FBL Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

FFG opened at $56.33 on Wednesday. The stock has a fifty day simple moving average of $61.22 and a two-hundred day simple moving average of $63.78. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 12.92 and a beta of 0.68. FBL Financial Group has a 12-month low of $54.61 and a 12-month high of $83.35.

FBL Financial Group (NYSE:FFG) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. The business had revenue of $192.91 million during the quarter. FBL Financial Group had a return on equity of 8.62% and a net margin of 13.96%. On average, analysts predict that FBL Financial Group will post 4.8 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in FBL Financial Group by 14.5% during the fourth quarter. Bank of America Corp DE now owns 11,277 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 1,432 shares during the period. Legal & General Group Plc grew its holdings in FBL Financial Group by 5.7% during the fourth quarter. Legal & General Group Plc now owns 3,732 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 201 shares during the period. Norges Bank acquired a new position in FBL Financial Group during the fourth quarter valued at approximately $11,284,000. Nisa Investment Advisors LLC acquired a new position in shares of FBL Financial Group in the first quarter valued at approximately $129,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of FBL Financial Group by 3.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,116 shares of the financial services provider’s stock valued at $1,387,000 after buying an additional 700 shares during the period. 28.93% of the stock is currently owned by hedge funds and other institutional investors.

FBL Financial Group Company Profile

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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