United Fire Group (NASDAQ:UFCS – Get Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
Separately, Piper Sandler lowered 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 note on Thursday, August 8th.
Read Our Latest Analysis on UFCS
United Fire Group Stock Up 2.1 %
United Fire Group (NASDAQ:UFCS – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The insurance provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). United Fire Group had a return on equity of 5.23% and a net margin of 3.17%. The business had revenue of $301.17 million during the quarter, compared to the consensus estimate of $300.80 million. During the same period last year, the business posted ($2.27) earnings per share. On average, research analysts expect that United Fire Group will post 1.1 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. Mitchell Sinkler & Starr PA purchased a new position in United Fire Group in the 1st quarter valued at about $283,000. BNP Paribas Financial Markets raised its holdings in United Fire Group by 66.0% in the first quarter. BNP Paribas Financial Markets now owns 18,986 shares of the insurance provider’s stock valued at $413,000 after acquiring an additional 7,549 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of United Fire Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 62,592 shares of the insurance provider’s stock valued at $1,363,000 after acquiring an additional 4,725 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of United Fire Group in the 1st quarter valued at $257,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of United Fire Group in the 1st quarter valued at about $265,000. 62.68% of the stock is 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.
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