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

StockNews.com lowered shares of United Fire Group (NASDAQ:UFCS) from a buy rating to a hold rating in a research note published on Monday.

Separately, Piper Sandler dropped their target price on shares of United Fire Group from $21.00 to $19.00 and set an underweight rating on the stock in a research report on Thursday, August 8th.

United Fire Group Stock Up 0.5 %

Shares of NASDAQ UFCS opened at $19.22 on Monday. The company’s 50-day simple moving average is $21.03 and its 200-day simple moving average is $22.00. United Fire Group has a 52-week low of $18.04 and a 52-week high of $25.55. The firm has a market cap of $486.19 million, a price-to-earnings ratio of -27.86 and a beta of 0.38.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). United Fire Group had a net margin of 3.17% and a return on equity of 5.23%. The company had revenue of $301.17 million during the quarter, compared to analyst estimates of $300.80 million. During the same quarter last year, the business earned ($2.27) EPS. Equities research analysts anticipate that United Fire Group will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Christopher R. Drahozal sold 2,500 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $21.06, for a total transaction of $52,650.00. Following the transaction, the director now directly owns 449,363 shares in the company, valued at $9,463,584.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have acquired 2,500 shares of company stock worth $50,310. 5.99% of the stock is owned by insiders.

Hedge Funds Weigh In On United Fire Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System acquired a new position in United Fire Group in the 4th quarter valued at about $213,000. Everence Capital Management Inc. acquired a new position in United Fire Group in the 4th quarter valued at about $234,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in United Fire Group by 22.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 957 shares during the last quarter. Foundry Partners LLC boosted its holdings in United Fire Group by 8.8% in the 4th quarter. Foundry Partners LLC now owns 158,661 shares of the insurance provider’s stock valued at $3,192,000 after purchasing an additional 12,815 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in United Fire Group by 17.8% in the 4th quarter. New York State Common Retirement Fund now owns 7,976 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 1,203 shares during the last quarter. 62.68% of the stock is currently owned by institutional investors and hedge funds.

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.