United Fire Group (NASDAQ:UFCS) Upgraded by StockNews.com to Strong-Buy Rating

United Fire Group (NASDAQ:UFCS) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

Separately, Piper Sandler upgraded shares of United Fire Group from an “underweight” rating to a “neutral” rating and raised their target price for the company from $19.00 to $26.00 in a research report on Monday, November 18th.

United Fire Group Trading Up 1.1 %

NASDAQ UFCS opened at $25.06 on Wednesday. The firm has a market capitalization of $635.02 million, a price-to-earnings ratio of 12.92 and a beta of 0.53. The firm’s 50 day simple moving average is $27.63 and its 200 day simple moving average is $23.90. United Fire Group has a 1 year low of $18.04 and a 1 year high of $31.70.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.64. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. On average, equities research analysts forecast that United Fire Group will post 1.84 earnings per share for the current year.

Insider Buying and Selling at United Fire Group

In other news, VP Corey Lynn Ruehle sold 2,664 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the completion of the transaction, the vice president now owns 12,523 shares of the company’s stock, valued at approximately $370,680.80. This trade represents a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On United Fire Group

Large investors have recently modified their holdings of the business. R Squared Ltd bought a new position in shares of United Fire Group during the fourth quarter valued at $27,000. Point72 Asset Management L.P. raised its stake in United Fire Group by 576.4% during the third quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock worth $113,000 after buying an additional 4,611 shares during the last quarter. Globeflex Capital L P bought a new position in United Fire Group during the fourth quarter worth $119,000. KLP Kapitalforvaltning AS bought a new position in United Fire Group during the fourth quarter worth $131,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in United Fire Group by 82.3% during the third 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 during the last quarter. 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.