Jones Trading Issues Positive Forecast for United Fire Group (NASDAQ:UFCS) Stock Price

United Fire Group (NASDAQ:UFCS) had its price target raised by Jones Trading from $32.00 to $33.00 in a research report sent to investors on Monday,Benzinga reports. Jones Trading currently has a buy rating on the insurance provider’s stock.

Separately, Wall Street Zen upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 15th.

United Fire Group Stock Performance

Shares of United Fire Group stock opened at $30.80 on Monday. The business has a 50-day moving average of $27.99 and a 200 day moving average of $27.64. United Fire Group has a 12 month low of $18.60 and a 12 month high of $31.70. The stock has a market capitalization of $785.09 million, a price-to-earnings ratio of 8.77 and a beta of 0.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.37 and a quick ratio of 0.37.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.33. United Fire Group had a return on equity of 11.84% and a net margin of 6.94%. The company had revenue of $314.80 million during the quarter, compared to analysts’ expectations of $337.99 million. As a group, sell-side analysts forecast that United Fire Group will post 2.42 earnings per share for the current year.

United Fire Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, June 6th. United Fire Group’s dividend payout ratio (DPR) is presently 18.23%.

Hedge Funds Weigh In On United Fire Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. raised its position in shares of United Fire Group by 131.3% during the 1st quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 633 shares in the last quarter. GAMMA Investing LLC raised its position in shares of United Fire Group by 270.2% during the 1st quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 970 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of United Fire Group by 812.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,570 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 1,398 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in shares of United Fire Group during the 4th quarter worth about $60,000. Finally, Aquatic Capital Management LLC raised its position in shares of United Fire Group by 716.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider’s stock worth $70,000 after acquiring an additional 2,149 shares in the last quarter. Hedge funds and other institutional investors own 62.68% of the company’s stock.

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.