StockNews.com Lowers United Fire Group (NASDAQ:UFCS) to Buy

United Fire Group (NASDAQ:UFCS) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Separately, Piper Sandler restated an “underweight” rating and issued a $21.00 price target on shares of United Fire Group in a research note on Monday, April 1st.

United Fire Group Stock Up 0.5 %

Shares of NASDAQ:UFCS traded up $0.10 during mid-day trading on Thursday, reaching $21.01. 56,770 shares of the stock were exchanged, compared to its average volume of 99,092. The company has a market cap of $531.55 million, a P/E ratio of -30.45 and a beta of 0.40. United Fire Group has a one year low of $18.41 and a one year high of $25.55. The stock’s 50 day simple moving average is $22.25 and its 200-day simple moving average is $21.98.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $296.00 million during the quarter, compared to the consensus estimate of $282.30 million. United Fire Group had a negative return on equity of 2.63% and a negative net margin of 1.50%. Analysts anticipate that United Fire Group will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling at United Fire Group

In other news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $21.06, for a total transaction of $52,650.00. Following the completion of the transaction, the director now directly owns 449,363 shares in the company, valued at approximately $9,463,584.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.99% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UFCS. Tower Research Capital LLC TRC boosted its stake in shares of United Fire Group by 127.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,761 shares of the insurance provider’s stock worth $96,000 after acquiring an additional 2,669 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of United Fire Group by 22.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 957 shares during the period. Quest Partners LLC bought a new position in shares of United Fire Group during the 4th quarter worth approximately $113,000. New York State Common Retirement Fund lifted its holdings in United Fire Group by 17.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,976 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 1,203 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in United Fire Group during the 1st quarter worth approximately $202,000. 62.68% of the stock is currently 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.