United Fire Group (NASDAQ:UFCS) Given New $40.00 Price Target at JonesTrading

United Fire Group (NASDAQ:UFCS) had its target price upped by equities research analysts at JonesTrading from $38.00 to $40.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. JonesTrading’s price target would indicate a potential upside of 1.83% from the company’s previous close.

UFCS has been the subject of several other reports. Piper Sandler lifted their price objective on United Fire Group from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Zacks Research downgraded United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of United Fire Group in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of United Fire Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, United Fire Group has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

United Fire Group Trading Up 1.1%

UFCS stock traded up $0.42 during trading on Monday, hitting $39.28. The company had a trading volume of 100,367 shares, compared to its average volume of 124,887. The stock has a market cap of $1.00 billion, a PE ratio of 8.77 and a beta of 0.44. United Fire Group has a one year low of $25.01 and a one year high of $40.63. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $36.70 and a 200-day moving average of $34.22.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.60. United Fire Group had a net margin of 8.52% and a return on equity of 13.84%. The company had revenue of $365.81 million for the quarter, compared to analyst estimates of $332.34 million. Research analysts predict that United Fire Group will post 2.42 earnings per share for the current fiscal year.

Institutional Trading of United Fire Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in United Fire Group by 19.8% during the fourth quarter. GAMMA Investing LLC now owns 1,743 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 288 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of United Fire Group by 23.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,726 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 329 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of United Fire Group by 17.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 375 shares during the period. Smartleaf Asset Management LLC boosted its stake in United Fire Group by 129.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 387 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of United Fire Group by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 7,883 shares of the insurance provider’s stock valued at $226,000 after buying an additional 391 shares during the period. 62.68% of the stock is 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.