United Fire Group (NASDAQ:UFCS) Given New $33.00 Price Target at Jones Trading

Key Points

• Jones Trading increased its price target for United Fire Group from $32.00 to $33.00, indicating a potential upside of 13.56% based on the stock's current price.
• Wall Street Zen upgraded United Fire Group's rating from "buy" to "strong-buy," reflecting increased confidence in the company's performance.
• In the most recent quarter, United Fire Group reported earnings per share (EPS) of $0.90, surpassing expectations and indicating strong financial health despite slightly lower revenue than estimated.

United Fire Group (NASDAQ:UFCS - Get Free Report) had its price objective upped by analysts at Jones Trading from $32.00 to $33.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the insurance provider's stock. Jones Trading's target price points to a potential upside of 13.56% from the company's current price.

Separately, Wall Street Zen upgraded United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th.

United Fire Group Stock Performance

UFCS opened at $29.06 on Monday. The company has a market cap of $740.74 million, a PE ratio of 8.28 and a beta of 0.53. The stock has a 50-day moving average of $27.87 and a 200-day moving average of $27.57. United Fire Group has a 52-week low of $18.04 and a 52-week high of $31.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.37 and a current ratio of 0.37.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.33. The company had revenue of $314.80 million during the quarter, compared to the consensus estimate of $337.99 million. United Fire Group had a return on equity of 11.84% and a net margin of 6.94%. As a group, equities research analysts forecast that United Fire Group will post 2.42 earnings per share for the current fiscal year.

Institutional Trading of United Fire Group

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in United Fire Group during the 1st quarter valued at approximately $559,000. Teacher Retirement System of Texas raised its holdings in United Fire Group by 7.9% in the 1st quarter. Teacher Retirement System of Texas now owns 56,919 shares of the insurance provider's stock valued at $1,677,000 after acquiring an additional 4,148 shares in the last quarter. GAMMA Investing LLC raised its holdings in United Fire Group by 270.2% in the 1st quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 970 shares in the last quarter. Barclays PLC raised its holdings in United Fire Group by 122.4% in the 4th quarter. Barclays PLC now owns 98,712 shares of the insurance provider's stock valued at $2,809,000 after acquiring an additional 54,332 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in United Fire Group by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider's stock valued at $39,981,000 after acquiring an additional 55,616 shares in the last quarter. 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.

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