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

StockNews.com upgraded shares of United Fire Group (NASDAQ:UFCS) from a buy rating to a strong-buy rating in a report published on Wednesday morning.

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

United Fire Group Stock Down 1.0 %

Shares of NASDAQ UFCS opened at $26.50 on Wednesday. The business’s 50 day moving average is $27.33 and its two-hundred day moving average is $23.96. The company has a market cap of $671.51 million, a P/E ratio of 13.66 and a beta of 0.53. United Fire Group has a 12 month low of $18.04 and a 12 month high of $31.70.

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

Insider Activity

In related news, Director James Noyce purchased 2,000 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $26.97 per share, for a total transaction of $53,940.00. Following the completion of the transaction, the director now directly owns 27,316 shares of the company’s stock, valued at approximately $736,712.52. The trade was a 7.90 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Corey Lynn Ruehle sold 2,664 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total value of $78,854.40. Following the completion of the sale, the vice president now owns 12,523 shares in the company, valued at $370,680.80. This trade represents a 17.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.99% of the stock is currently owned by company insiders.

Institutional Trading of United Fire Group

Large investors have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in United Fire Group in the fourth quarter valued at $27,000. NewEdge Advisors LLC bought a new stake in United Fire Group in the fourth quarter valued at $60,000. Aquatic Capital Management LLC grew its position in United Fire Group by 716.3% in the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider’s stock valued at $70,000 after acquiring an additional 2,149 shares during the period. Globeflex Capital L P bought a new stake in United Fire Group in the fourth quarter valued at $119,000. Finally, KLP Kapitalforvaltning AS bought a new stake in United Fire Group in the fourth quarter valued at $131,000. 62.68% of the stock is currently owned by 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.