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

United Fire Group (NASDAQ:UFCS) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Separately, Piper Sandler decreased their target price on United Fire Group from $21.00 to $19.00 and set an “underweight” rating for the company in a report on Thursday, August 8th.

United Fire Group Price Performance

Shares of UFCS stock traded up $0.41 during trading hours on Friday, reaching $20.10. 101,103 shares of the company’s stock were exchanged, compared to its average volume of 107,313. The company’s 50 day moving average is $20.42 and its two-hundred day moving average is $21.40. The company has a market cap of $509.33 million, a P/E ratio of -29.13 and a beta of 0.36. United Fire Group has a 1 year low of $18.04 and a 1 year high of $25.55.

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

Institutional Trading of United Fire Group

A number of hedge funds have recently bought and sold shares of UFCS. Systematic Financial Management LP grew its position in United Fire Group by 11.6% in the second quarter. Systematic Financial Management LP now owns 437,584 shares of the insurance provider’s stock worth $9,404,000 after acquiring an additional 45,405 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of United Fire Group during the second quarter worth approximately $4,770,000. Price T Rowe Associates Inc. MD raised its position in United Fire Group by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,986 shares of the insurance provider’s stock valued at $915,000 after purchasing an additional 1,071 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of United Fire Group in the first quarter worth about $202,000. Finally, Bank of New York Mellon Corp lifted its holdings in United Fire Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 193,283 shares of the insurance provider’s stock worth $4,154,000 after buying an additional 1,023 shares in the last quarter. 62.68% of the stock is owned by hedge funds and other institutional investors.

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.