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

United Fire Group (NASDAQ:UFCS - Get Free Report) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Thursday.

UFCS has been the topic of a number of other reports. Jones Trading reissued a "buy" rating and set a $32.00 target price on shares of United Fire Group in a report on Monday. Piper Sandler lifted their target price on United Fire Group from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th.

United Fire Group Price Performance

NASDAQ UFCS opened at $27.94 on Thursday. The firm has a market cap of $711.10 million, a P/E ratio of 11.74 and a beta of 0.49. The stock's 50-day moving average is $27.91 and its 200-day moving average is $27.29. United Fire Group has a one year low of $18.04 and a one year high of $31.70.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its earnings results on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. The firm had revenue of $308.41 million for the quarter, compared to analysts' expectations of $336.18 million. Equities analysts anticipate that United Fire Group will post 2.42 EPS for the current year.

Insider Activity at United Fire Group

In related news, Director Christopher R. Drahozal sold 2,500 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $28.33, for a total value of $70,825.00. Following the sale, the director now owns 441,863 shares in the company, valued at $12,517,978.79. This represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Noyce purchased 2,000 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $26.97 per share, for a total transaction of $53,940.00. Following the completion of the acquisition, the director now owns 27,316 shares of the company's stock, valued at $736,712.52. The trade was a 7.90% increase in their position. The disclosure for this purchase can be found here. 6.12% of the stock is owned by company insiders.

Institutional Trading of United Fire Group

A number of institutional investors have recently modified their holdings of UFCS. R Squared Ltd purchased a new stake in United Fire Group in the 4th quarter worth approximately $27,000. Federated Hermes Inc. raised its position in United Fire Group by 131.3% during the 1st quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 633 shares during the last quarter. GAMMA Investing LLC increased its position in shares of United Fire Group by 270.2% during the first quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock valued at $39,000 after buying an additional 970 shares during the period. NewEdge Advisors LLC purchased a new position in shares of United Fire Group in the 4th quarter valued at approximately $60,000. Finally, Aquatic Capital Management LLC grew its position in shares of United Fire Group by 716.3% in the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock worth $70,000 after buying an additional 2,149 shares during the period. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

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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