Markets
TRV

FBL Financial (FFG) Misses on Q4 Earnings, Beats Revenues

FBL Financial Group, Inc . FFG reported fourth-quarter operating earnings of $1.02 per share, which missed the Zacks Consensus Estimate of $1.08 by 5.56%. Earnings decreased 1.9% due to unfavorable mortality results due to a higher number of claims as well as higher average claim size.

Revenues of $184 million beat the Zacks Consensus Estimate of $176 million 4.8%. Revenues inched up 0.9% year over year, mainly because of higher premiums and investment income.

Behind the Headlines

FBL Financial's total premiums collected were $173.2 million, down 0.8% year on year. Premiums and product charges increased 2.5% to $78.4 million in the quarter. Interest sensitive products charges were up 2.1% year over year to $29 million, while traditional life insurance premiums rose 2.7% year over year to $49 million.

Investment income jumped 2% year over year to $101.5 million in the quarter driven by increase in average invested assets. As of Dec 31, 2016, around 96% of fixed maturity securities in the company's portfolio were investment grade debt securities.

Total benefits and expenses increased 4.2% to $149 million in the fourth quarter.

FBL Financial Group, Inc. Price, Consensus and EPS Surprise

FBL Financial Group, Inc. Price, Consensus and EPS Surprise | FBL Financial Group, Inc. Quote

Financial Update

As of Dec 31, 2016, book value per share, including other comprehensive income (OCI), was $47.61 compared with $45.61 as of Dec 31, 2015. Excluding OCI, book value per share was $41.60 as against $40.99 as of Dec 31, 2015.

The company exited the quarter with total assets of $9.6 billion, up 5.5% year over year. Debt level declined 13.4% to $97 million.

Total investments inched up 6.5% to $8.2 billion as of Dec 31, 2016.

The company has $49.5 million remaining under its stock repurchase program.

Zacks Rank

FBL Financial currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

Performance of Other Insurers

Among the other insurers that have reported their fourth-quarter earnings so far, the bottom line at Progressive Corp. PGR , The Travelers Companies Inc. TRV and RLI Corp. RLI beat their respective Zacks Consensus Estimate.

Zacks' Top 10 Stocks for 2017

In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017? Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

FBL Financial Group, Inc. (FFG): Free Stock Analysis Report

RLI Corp. (RLI): Free Stock Analysis Report

The Travelers Companies, Inc. (TRV): Free Stock Analysis Report

Progressive Corporation (The) (PGR): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

TRV FFG PGR RLI

Other Topics

Earnings Stocks

Latest Markets Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More