United Fire Group (NASDAQ:UFCS) Downgraded by StockNews.com

StockNews.com lowered shares of United Fire Group (NASDAQ:UFCS) from a buy rating to a hold rating in a research note issued to investors on Monday.

Separately, Piper Sandler decreased their price target 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.

United Fire Group Trading Up 0.5 %

NASDAQ:UFCS opened at $19.22 on Monday. United Fire Group has a twelve month low of $18.04 and a twelve month high of $25.55. The company has a market capitalization of $486.19 million, a P/E ratio of -27.86 and a beta of 0.38. The firm has a 50-day moving average price of $21.03 and a two-hundred day moving average price of $22.00.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) earnings per share (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 firm had revenue of $301.17 million for the quarter, compared to analyst estimates of $300.80 million. During the same period in the prior year, the business earned ($2.27) earnings per share. On average, equities research analysts predict that United Fire Group will post 1.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Christopher R. Drahozal sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $21.06, for a total value of $52,650.00. Following the sale, the director now directly owns 449,363 shares of the company’s stock, valued at $9,463,584.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 2,500 shares of company stock valued at $50,310 in the last ninety days. Insiders own 5.99% of the company’s stock.

Institutional Investors Weigh In On United Fire Group

Hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System acquired a new stake in shares of United Fire Group in the fourth quarter worth approximately $213,000. Quest Partners LLC acquired a new stake in shares of United Fire Group in the fourth quarter worth approximately $113,000. Price T Rowe Associates Inc. MD boosted its position in shares of United Fire Group by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,986 shares of the insurance provider’s stock worth $915,000 after acquiring an additional 1,071 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in United Fire Group by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 363,590 shares of the insurance provider’s stock valued at $7,315,000 after buying an additional 27,213 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in United Fire Group in the first quarter valued at approximately $202,000. 62.68% of the stock is owned by institutional investors and hedge funds.

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.