United Fire Group (NASDAQ:UFCS) Stock Rating Reaffirmed by Piper Sandler

United Fire Group (NASDAQ:UFCS - Get Free Report)'s stock had its "underweight" rating reissued by research analysts at Piper Sandler in a research note issued to investors on Monday, Benzinga reports. They currently have a $21.00 price target on the insurance provider's stock. Piper Sandler's target price suggests a potential downside of 3.67% from the company's current price.

Separately, StockNews.com raised shares of United Fire Group from a "hold" rating to a "buy" rating in a report on Wednesday, February 14th.

United Fire Group Stock Performance

UFCS traded up $0.03 during trading on Monday, hitting $21.80. The stock had a trading volume of 68,699 shares, compared to its average volume of 90,260. The company has a market capitalization of $551.10 million, a PE ratio of -18.47 and a beta of 0.35. United Fire Group has a twelve month low of $18.41 and a twelve month high of $28.58. The stock has a 50 day simple moving average of $22.60 and a two-hundred day simple moving average of $21.14.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.12. The business had revenue of $287.32 million during the quarter, compared to analysts' expectations of $278.70 million. United Fire Group had a negative net margin of 2.71% and a negative return on equity of 4.38%. On average, equities research analysts anticipate that United Fire Group will post 1.1 EPS for the current year.

Insider Buying and Selling

In other United Fire Group news, VP Micah G. Woolstenhulme bought 1,500 shares of United Fire Group stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average price of $21.76 per share, with a total value of $32,640.00. Following the completion of the acquisition, the vice president now directly owns 32,763 shares in the company, valued at approximately $712,922.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction on Monday, March 18th. The shares were sold at an average price of $21.90, for a total value of $54,750.00. Following the completion of the transaction, the director now owns 451,863 shares of the company's stock, valued at $9,895,799.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Micah G. Woolstenhulme acquired 1,500 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was purchased at an average cost of $21.76 per share, with a total value of $32,640.00. Following the acquisition, the vice president now directly owns 32,763 shares of the company's stock, valued at approximately $712,922.88. The disclosure for this purchase can be found here. 7.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of United Fire Group by 185.8% in the third quarter. Tower Research Capital LLC TRC now owns 2,092 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 1,360 shares during the period. Captrust Financial Advisors grew its position in shares of United Fire Group by 72.0% in the first quarter. Captrust Financial Advisors now owns 1,488 shares of the insurance provider's stock valued at $46,000 after purchasing an additional 623 shares during the period. Quantbot Technologies LP acquired a new stake in shares of United Fire Group in the third quarter valued at about $67,000. UBS Group AG grew its position in shares of United Fire Group by 34.5% in the third quarter. UBS Group AG now owns 3,182 shares of the insurance provider's stock valued at $91,000 after purchasing an additional 817 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of United Fire Group by 22.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider's stock valued at $104,000 after purchasing an additional 957 shares during the period. Hedge funds and other institutional investors 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.