United Fire Group (NASDAQ:UFCS) Sets New 12-Month High – Time to Buy?

United Fire Group, Inc. (NASDAQ:UFCS) hit a new 52-week high during trading on Monday . The company traded as high as $26.14 and last traded at $26.14, with a volume of 12696 shares changing hands. The stock had previously closed at $25.42.

Wall Street Analyst Weigh In

Several analysts have commented on UFCS shares. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Piper Sandler raised United Fire Group from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $19.00 to $26.00 in a research report on Monday.

United Fire Group Trading Up 5.2 %

The firm’s fifty day moving average price is $20.98 and its two-hundred day moving average price is $21.24. The stock has a market capitalization of $677.85 million, a PE ratio of 13.79 and a beta of 0.37.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.21 by $0.60. The company had revenue of $322.96 million for the quarter, compared to analyst estimates of $306.80 million. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. During the same quarter last year, the business earned $0.31 earnings per share. As a group, sell-side analysts anticipate that United Fire Group, Inc. will post 1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United Fire Group

A number of hedge funds have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of United Fire Group during the 2nd quarter valued at approximately $65,000. Point72 Asset Management L.P. lifted its stake in United Fire Group by 576.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after buying an additional 4,611 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in United Fire Group by 82.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock worth $144,000 after buying an additional 3,098 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of United Fire Group during the first quarter valued at approximately $202,000. Finally, Lion Street Advisors LLC purchased a new stake in shares of United Fire Group during the second quarter worth approximately $201,000. 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.