United Fire Group (NASDAQ:UFCS) Upgraded at StockNews.com

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

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

United Fire Group Stock Performance

UFCS stock opened at $25.48 on Monday. The stock has a market capitalization of $645.71 million, a P/E ratio of 13.13 and a beta of 0.53. United Fire Group has a one year low of $18.04 and a one year high of $31.70. The company has a 50 day moving average price of $28.07 and a two-hundred day moving average price of $23.79.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.21 by $0.60. The firm had revenue of $322.96 million during the quarter, compared to analysts’ expectations of $306.80 million. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. During the same period in the previous year, the company earned $0.31 EPS. Research analysts forecast that United Fire Group will post 1.84 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.51%. United Fire Group’s dividend payout ratio is presently 32.99%.

Insider Activity

In related news, VP Corey Lynn Ruehle sold 2,664 shares of United Fire Group 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 transaction, the vice president now owns 12,523 shares in the company, valued at approximately $370,680.80. The trade was a 17.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On United Fire Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of United Fire Group by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 103,210 shares of the insurance provider’s stock valued at $2,936,000 after acquiring an additional 2,940 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of United Fire Group by 0.7% during the 4th quarter. Rhumbline Advisers now owns 66,148 shares of the insurance provider’s stock valued at $1,882,000 after acquiring an additional 480 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of United Fire Group by 5.1% during the 4th quarter. Empowered Funds LLC now owns 74,664 shares of the insurance provider’s stock valued at $2,124,000 after acquiring an additional 3,594 shares in the last quarter. Lion Street Advisors LLC acquired a new position in shares of United Fire Group during the 4th quarter valued at $266,000. Finally, Yousif Capital Management LLC acquired a new position in shares of United Fire Group during the 4th quarter valued at $231,000. Institutional investors and hedge funds 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.