NYSE:FFG

Stock Analysis Report

Executive Summary

FBL Financial Group, Inc., through its subsidiaries, sells individual life insurance and annuity products.

Snowflake

Fundamentals

Good value average dividend payer.


Similar Companies

Share Price & News

How has FBL Financial Group's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.2%

FFG

0.1%

US Insurance

0.5%

US Market


1 Year Return

-17.9%

FFG

13.8%

US Insurance

6.8%

US Market

Return vs Industry: FFG underperformed the US Insurance industry which returned 13.8% over the past year.

Return vs Market: FFG underperformed the US Market which returned 6.8% over the past year.


Shareholder returns

FFGIndustryMarket
7 Day0.2%0.1%0.5%
30 Day-4.2%-1.8%-0.8%
90 Day-9.6%-1.6%-0.9%
1 Year-13.6%-17.9%16.6%13.8%9.2%6.8%
3 Year5.4%-8.7%44.6%33.5%45.6%36.2%
5 Year57.8%20.9%69.6%49.4%63.2%45.4%

Price Volatility Vs. Market

How volatile is FBL Financial Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is FBL Financial Group undervalued compared to its fair value and its price relative to the market?

9.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FFG ($57.41) is trading below our estimate of fair value ($63.16)

Significantly Below Fair Value: FFG is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: FFG is good value based on its PE Ratio (13.8x) compared to the Insurance industry average (15.6x).

PE vs Market: FFG is good value based on its PE Ratio (13.8x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: FFG is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: FFG is good value based on its PB Ratio (1x) compared to the US Insurance industry average (1.2x).


Next Steps

Future Growth

How is FBL Financial Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

7.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FFG's forecast earnings growth (7.6% per year) is above the savings rate (2.7%).

Earnings vs Market: FFG's earnings (7.6% per year) are forecast to grow slower than the US market (14.6% per year).

High Growth Earnings: FFG's earnings are forecast to grow, but not significantly.

Revenue vs Market: FFG's revenue (1% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: FFG's revenue (1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FFG's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has FBL Financial Group performed over the past 5 years?

6.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: FFG's earnings have grown by 6.2% per year over the past 5 years.

Accelerating Growth: FFG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FFG had negative earnings growth (-44.4%) over the past year, making it difficult to compare to the Insurance industry average (1.4%).


Return on Equity

High ROE: FFG's Return on Equity (7.4%) is considered low.


Return on Assets

ROA vs Industry: FFG's Return on Assets is below or equal to the Insurance industry average last year.


Return on Capital Employed

ROCE Improving: FFG's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is FBL Financial Group's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FFG has a low level of unsold assets or inventory.

Debt Coverage by Assets: FFG's debt is covered by short term assets (assets are 2.350720x debt).


Financial Institutions Analysis

Asset Level: FFG's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if FFG has a sufficient allowance for bad loans.

Low Risk Liabilities: FFG reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if FFG has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FFG has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if FFG has an appropriate level of bad loans.


Next Steps

Dividend

What is FBL Financial Group's current dividend yield, its reliability and sustainability?

5.96%

Current Dividend Yield


Dividend Yield vs Market

company6.0%marketbottom25%1.4%markettop25%3.7%industryaverage2.4%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: FFG's dividend (5.96%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: FFG's dividend (5.96%) is in the top 25% of dividend payers in the US market (3.73%)

Stable Dividend: FFG's dividend payments have been volatile in the past 10 years.

Growing Dividend: FFG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (45.1%), FFG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of FBL Financial Group's salary, the management and board of directors tenure and is there insider trading?

6.8yrs

Average management tenure


CEO

Jim Brannen (57yo)

7.3yrs

Tenure

US$2,940,506

Compensation

Mr. James Patrick Brannen, also known as Jim, CPA, serves as the Chief Executive Officer of Farm Bureau Property & Casualty Insurance Company and served as its Chief Financial Officer. Mr. Brannen has been ...


CEO Compensation Analysis

Compensation vs. Market: Jim's total compensation ($USD2.94M) is about average for companies of similar size in the US market ($USD4.00M).

Compensation vs Earnings: Jim's compensation has been consistent with company performance over the past year.


Management Age and Tenure

6.8yrs

Average Tenure

56yo

Average Age

Experienced Management: FFG's management team is seasoned and experienced (6.8 years average tenure).


Board Age and Tenure

5.5yrs

Average Tenure

60.5yo

Average Age

Experienced Board: FFG's board of directors are considered experienced (5.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Jim Brannen (57yo)

    CEO & Director

    • Tenure: 7.3yrs
    • Compensation: US$2.94m
  • Craig Hill (63yo)

    Chairman of the Board

    • Tenure: 7.8yrs
    • Compensation: US$75.12k
  • Charlie Happel (57yo)

    Chief Investment Officer

    • Tenure: 10.1yrs
    • Compensation: US$1.36m
  • Don Seibel (56yo)

    CFO & Treasurer

    • Tenure: 7.2yrs
    • Compensation: US$1.27m
  • Kathleen Till Stange

    Vice President of Corporate & Investor Relations

    • Tenure: 0yrs
  • D. Stice (50yo)

    Chief Marketing Officer

    • Tenure: 6.3yrs
    • Compensation: US$1.03m
  • Nick Gerhart (43yo)

    Chief Administrative Officer

    • Tenure: 2.8yrs
  • Dan Pitcher (57yo)

    Chief Operating Officer of Property Casualty Companies

    • Tenure: 0yrs
    • Compensation: US$1.36m
  • Casey Decker (44yo)

    Chief Information Officer

    • Tenure: 3.3yrs
  • Tony Aldridge (56yo)

    Chief Accounting Officer

    • Tenure: 2.6yrs

Board Members

  • Jim Brannen (57yo)

    CEO & Director

    • Tenure: 7.3yrs
    • Compensation: US$2.94m
  • Roger Brooks (81yo)

    Independent Director

    • Tenure: 10.4yrs
    • Compensation: US$99.50k
  • Craig Hill (63yo)

    Chairman of the Board

    • Tenure: 7.8yrs
    • Compensation: US$75.12k
  • Paul Larson (66yo)

    Vice Chairman & Lead Director

    • Tenure: 2.4yrs
    • Compensation: US$114.50k
  • Paul Juffer (58yo)

    Director

    • Tenure: 2.4yrs
    • Compensation: US$102.50k
  • Kevin Paap (58yo)

    Director

    • Tenure: 1.9yrs
    • Compensation: US$75.30k
  • Joe Heinrich (58yo)

    Director

    • Tenure: 6.4yrs
    • Compensation: US$54.00k
  • Scott VanderWal (55yo)

    Director

    • Tenure: 8.4yrs
    • Compensation: US$77.80k
  • Richard Felts (70yo)

    Director

    • Tenure: 4.6yrs
    • Compensation: US$83.30k
  • Jim Holte (65yo)

    Director

    • Tenure: 3.6yrs
    • Compensation: US$77.80k

Company Information

FBL Financial Group, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: FBL Financial Group, Inc.
  • Ticker: FFG
  • Exchange: NYSE
  • Founded: 1944
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: US$1.416b
  • Shares outstanding: 24.66m
  • Website: https://www.fblfinancial.com

Number of Employees


Location

  • FBL Financial Group, Inc.
  • 5400 University Avenue
  • West Des Moines
  • Iowa
  • 50266
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FFGNYSE (New York Stock Exchange)YesClass A Common StockUSUSDJul 1996

Biography

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 rat ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 23:35
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.