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

United Fire Group (NASDAQ:UFCS) had its target price hoisted by Jones Trading from $33.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. Jones Trading currently has a buy rating on the insurance provider’s stock.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of United Fire Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings upgraded United Fire Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

United Fire Group Trading Up 1.1%

Shares of United Fire Group stock opened at $37.03 on Wednesday. The firm has a 50-day simple moving average of $31.53 and a two-hundred day simple moving average of $29.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.37 and a current ratio of 0.37. United Fire Group has a fifty-two week low of $24.11 and a fifty-two week high of $37.33. The company has a market cap of $944.78 million, a P/E ratio of 10.55 and a beta of 0.49.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $1.50 EPS for the quarter, topping the consensus estimate of $0.69 by $0.81. The company had revenue of $328.43 million during the quarter, compared to analyst estimates of $354.46 million. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. As a group, equities analysts predict that United Fire Group will post 2.42 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. United Fire Group’s payout ratio is 15.09%.

Insider Buying and Selling at United Fire Group

In other United Fire Group news, Director John Paul E. Besong sold 2,450 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $32.26, for a total transaction of $79,037.00. Following the transaction, the director directly owned 24,494 shares in the company, valued at $790,176.44. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.12% of the company’s stock.

Institutional Investors Weigh In On United Fire Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in United Fire Group by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 105,987 shares of the insurance provider’s stock valued at $3,122,000 after acquiring an additional 2,777 shares during the period. CWM LLC lifted its position in shares of United Fire Group by 192.8% during the first quarter. CWM LLC now owns 5,236 shares of the insurance provider’s stock worth $154,000 after purchasing an additional 3,448 shares in the last quarter. Bailard Inc. purchased a new position in shares of United Fire Group in the first quarter valued at approximately $280,000. Avantax Advisory Services Inc. grew its holdings in shares of United Fire Group by 18.9% in the first quarter. Avantax Advisory Services Inc. now owns 26,794 shares of the insurance provider’s stock valued at $789,000 after purchasing an additional 4,253 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in United Fire Group by 49.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,764 shares of the insurance provider’s stock worth $229,000 after buying an additional 2,574 shares during the period. Hedge funds and other institutional investors own 62.68% of the company’s stock.

About United Fire Group

United Fire Group, Inc, together with its subsidiaries, provides property and casualty insurance for individuals and businesses in the United States. The company offers commercial and personal lines of property and casualty insurance; and reinsurance coverage for property and casualty insurance. Its commercial lines include fire and allied lines, other liability, automobile, workers’ compensation, fidelity and surety coverage, and other insurance products; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners, as well as provides assumed reinsurance products.