Weiss Ratings Reaffirms Hold (C+) Rating for United Fire Group (NASDAQ:UFCS)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for United Fire Group (NASDAQ:UFCS), reflecting mixed sentiments from various analysts about the stock's performance.
• Analysts from Jones Trading raised the target price for United Fire Group shares from $32.00 to $33.00, indicating a positive outlook with a "buy" rating, contributing to a consensus rating of "Moderate Buy."
• United Fire Group reported a quarterly earnings per share (EPS) of $0.90, surpassing analysts’ estimates of $0.57, although their revenue fell short of expectations at $314.80 million.

United Fire Group (NASDAQ:UFCS - Get Free Report)'s stock had its "hold (c+)" rating reiterated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently issued reports on UFCS. Jones Trading upped their target price on shares of United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a report on Monday, August 11th. Zacks Research raised United Fire Group to a "strong-buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, United Fire Group has a consensus rating of "Moderate Buy" and an average target price of $30.50.

United Fire Group Price Performance

Shares of NASDAQ UFCS traded up $0.09 during midday trading on Wednesday, reaching $31.08. The stock had a trading volume of 81,329 shares, compared to its average volume of 122,626. The company has a market capitalization of $792.23 million, a price-to-earnings ratio of 8.85 and a beta of 0.49. 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 has a 12-month low of $19.27 and a 12-month high of $32.58. The stock has a 50-day moving average of $30.49 and a 200-day moving average of $28.80.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 6.94% and a return on equity of 11.84%. As a group, research analysts anticipate that United Fire Group will post 2.42 EPS for the current fiscal year.

Insider Activity at United Fire Group

In other United Fire Group news, Director John Paul E. Besong sold 2,450 shares of the business's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $32.26, for a total transaction of $79,037.00. Following the completion of the sale, the director owned 24,494 shares of the company's stock, valued at approximately $790,176.44. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On United Fire Group

Several hedge funds have recently made changes to their positions in UFCS. GAMMA Investing LLC raised its position in United Fire Group by 10,805.8% during the first quarter. GAMMA Investing LLC now owns 39,152 shares of the insurance provider's stock worth $1,153,000 after acquiring an additional 38,793 shares during the period. Farther Finance Advisors LLC grew its stake in shares of United Fire Group by 1,241.8% during the first quarter. Farther Finance Advisors LLC now owns 4,428 shares of the insurance provider's stock valued at $131,000 after acquiring an additional 4,098 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of United Fire Group during the first quarter valued at about $559,000. Teacher Retirement System of Texas lifted its stake in shares of 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 worth $1,677,000 after acquiring an additional 4,148 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of United Fire Group by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 105,987 shares of the insurance provider's stock valued at $3,122,000 after buying an additional 2,777 shares in the last quarter. 62.68% of the stock is currently owned by institutional investors.

United Fire Group Company Profile

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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