United Fire Group (NASDAQ:UFCS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of United Fire Group (NASDAQ:UFCS) from a hold rating to a buy rating in a research report sent to investors on Sunday morning.

Other analysts also recently issued research reports about the company. Weiss Ratings restated a “buy (b-)” rating on shares of United Fire Group in a research note on Thursday, November 13th. Jones Trading boosted their target price on United Fire Group from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Zacks Research cut United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, United Fire Group has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

United Fire Group Trading Up 1.1%

Shares of NASDAQ UFCS opened at $36.99 on Friday. United Fire Group has a 1 year low of $24.11 and a 1 year high of $37.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a 50-day moving average of $31.99 and a 200 day moving average of $29.82. The stock has a market cap of $943.76 million, a P/E ratio of 10.54 and a beta of 0.49.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Tuesday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.81. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. The business had revenue of $354.02 million for the quarter, compared to analysts’ expectations of $354.46 million. As a group, sell-side analysts expect that United Fire Group will post 2.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Paul E. Besong sold 2,450 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $32.26, for a total value of $79,037.00. Following the transaction, the director directly owned 24,494 shares of the company’s stock, valued at approximately $790,176.44. This represents a 9.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its holdings in United Fire Group by 17.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock worth $74,000 after buying an additional 375 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of United Fire Group by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,883 shares of the insurance provider’s stock valued at $226,000 after acquiring an additional 391 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of United Fire Group by 7.1% in the second quarter. PNC Financial Services Group Inc. now owns 6,024 shares of the insurance provider’s stock worth $173,000 after acquiring an additional 399 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of United Fire Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,482 shares of the insurance provider’s stock worth $368,000 after acquiring an additional 546 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of United Fire Group by 131.3% during the first quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 633 shares during the last quarter. 62.68% of the stock is owned by institutional investors.

United Fire Group Company Profile

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.