StockNews.com upgraded shares of United Fire Group (NASDAQ:UFCS - Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday.
Several other analysts have also issued reports on the company. Piper Sandler increased their target price on United Fire Group from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Jones Trading reaffirmed a "buy" rating and set a $32.00 target price on shares of United Fire Group in a research note on Monday, May 12th.
Check Out Our Latest Research Report on UFCS
United Fire Group Price Performance
Shares of UFCS stock traded down $0.02 during trading hours on Thursday, hitting $28.38. 2,028 shares of the company's stock were exchanged, compared to its average volume of 127,288. The stock's 50-day moving average is $27.97 and its 200-day moving average is $27.57. The stock has a market cap of $722.30 million, a price-to-earnings ratio of 11.94 and a beta of 0.49. United Fire Group has a 52 week low of $18.04 and a 52 week high of $31.70.
United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. The company had revenue of $308.41 million for the quarter, compared to analyst estimates of $336.18 million. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. Equities research analysts forecast that United Fire Group will post 2.42 earnings per share for the current fiscal year.
United Fire Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Friday, March 7th. United Fire Group's dividend payout ratio (DPR) is currently 25.30%.
Insider Activity at United Fire Group
In related news, major shareholder Dee Ann Mcintyre sold 2,500 shares of United Fire Group stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $27.31, for a total transaction of $68,275.00. Following the transaction, the insider now directly owns 446,863 shares in the company, valued at approximately $12,203,828.53. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.12% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of UFCS. NewEdge Advisors LLC boosted its position in United Fire Group by 17.7% during the first quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider's stock valued at $74,000 after purchasing an additional 375 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in United Fire Group by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,936 shares of the insurance provider's stock valued at $340,000 after purchasing an additional 456 shares during the period. Rhumbline Advisers boosted its stake in shares of United Fire Group by 0.7% in the fourth quarter. Rhumbline Advisers now owns 66,148 shares of the insurance provider's stock worth $1,882,000 after acquiring an additional 480 shares during the last quarter. Federated Hermes Inc. lifted its position in United Fire Group by 131.3% during the first quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock worth $33,000 after buying an additional 633 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in United Fire Group by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 37,296 shares of the insurance provider's stock valued at $1,061,000 after purchasing an additional 945 shares during the period. Institutional investors own 62.68% of the company's stock.
United Fire Group Company Profile
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Get Free Report)
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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