JonesTrading Issues Positive Forecast for United Fire Group (NASDAQ:UFCS) Stock Price

United Fire Group (NASDAQ:UFCS) had its target price raised by analysts at JonesTrading from $40.00 to $45.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. JonesTrading’s price target would suggest a potential downside of 1.03% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Wall Street Zen lowered United Fire Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Piper Sandler increased their price target on shares of United Fire Group from $45.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, United Fire Group has a consensus rating of “Moderate Buy” and an average price target of $51.00.

United Fire Group Trading Up 5.7%

Shares of United Fire Group stock traded up $2.46 on Thursday, hitting $45.47. 31,463 shares of the company’s stock traded hands, compared to its average volume of 113,514. The firm’s 50-day moving average price is $38.43 and its two-hundred day moving average price is $36.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $1.16 billion, a PE ratio of 9.20 and a beta of 0.50. United Fire Group has a one year low of $25.79 and a one year high of $45.82.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.29. United Fire Group had a return on equity of 14.88% and a net margin of 9.16%.The business had revenue of $369.44 million for the quarter, compared to analyst estimates of $340.16 million. On average, research analysts expect that United Fire Group will post 3.65 EPS for the current fiscal year.

Insider Buying and Selling at United Fire Group

In related news, Director Christopher R. Drahozal sold 4,250 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $38.49, for a total value of $163,582.50. Following the sale, the director directly owned 429,113 shares of the company’s stock, valued at approximately $16,516,559.37. The trade was a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Dee Ann Mcintyre sold 4,250 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $38.84, for a total transaction of $165,070.00. Following the completion of the transaction, the insider directly owned 437,613 shares of the company’s stock, valued at approximately $16,996,888.92. The trade was a 0.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,750 shares of company stock valued at $493,723 in the last three months. 6.06% of the stock is owned by insiders.

Institutional Trading of United Fire Group

A number of institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of United Fire Group by 129.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock worth $25,000 after buying an additional 387 shares during the period. Basepoint Wealth LLC acquired a new stake in United Fire Group in the 4th quarter valued at approximately $26,000. Federated Hermes Inc. lifted its stake in United Fire Group by 109.5% in the 4th quarter. Federated Hermes Inc. now owns 1,190 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 622 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in United Fire Group by 812.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,570 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 1,398 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in United Fire Group during the 4th quarter worth approximately $48,000. 62.68% of the stock is currently owned by institutional investors.

About United Fire Group

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.