United Fire Group (NASDAQ:UFCS) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of United Fire Group (NASDAQ:UFCS) from a strong-buy rating to a buy rating in a research note released on Wednesday.

A number of other equities research analysts have also weighed in on the stock. Jones Trading raised shares of United Fire Group to a “strong-buy” rating and set a $32.00 target price on the stock in a report on Wednesday, March 5th. Piper Sandler boosted their price objective on shares of United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th.

United Fire Group Stock Performance

NASDAQ UFCS opened at $27.95 on Wednesday. The firm’s fifty day moving average price is $27.94 and its two-hundred day moving average price is $27.12. The stock has a market cap of $709.73 million, a PE ratio of 11.74 and a beta of 0.49. United Fire Group has a fifty-two week low of $18.04 and a fifty-two week high of $31.70.

United Fire Group (NASDAQ:UFCS) last posted its earnings results on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. The firm had revenue of $308.41 million during the quarter, compared to the consensus estimate of $336.18 million. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. As a group, sell-side analysts predict that United Fire Group will post 2.42 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Friday, March 7th. United Fire Group’s dividend payout ratio is presently 26.89%.

Insiders Place Their Bets

In related news, Director Christopher R. Drahozal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $28.33, for a total value of $70,825.00. Following the transaction, the director now owns 441,863 shares in the company, valued at $12,517,978.79. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Noyce purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were acquired at an average price of $26.97 per share, with a total value of $53,940.00. Following the completion of the acquisition, the director now owns 27,316 shares in the company, valued at approximately $736,712.52. This trade represents a 7.90 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.12% of the company’s stock.

Hedge Funds Weigh In On United Fire Group

Institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of United Fire Group in the 4th quarter valued at $27,000. Federated Hermes Inc. increased its stake in United Fire Group by 131.3% in 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of United Fire Group by 270.2% during the first quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 970 shares during the period. NewEdge Advisors LLC bought a new position in shares of United Fire Group during the 4th quarter worth about $60,000. Finally, Aquatic Capital Management LLC grew its stake in shares of United Fire Group by 716.3% in the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider’s stock valued at $70,000 after buying an additional 2,149 shares during the period. 62.68% of the stock is owned by institutional investors and hedge funds.

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.