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

Key Points

• Weiss Ratings has restated its "hold (C+)" rating for United Fire Group (NASDAQ: UFCS), while other analysts have shown more optimism with ratings ranging from "strong-buy" to "buy."
• United Fire Group's recent quarterly earnings reported $0.90 earnings per share, exceeding estimates of $0.57, although revenue fell short of expectations at $314.80 million.
• Insider transactions reveal that Director John Paul E. Besong sold 2,450 shares at an average price of $32.26, reducing his stake by 9.09% in the company.

United Fire Group (NASDAQ:UFCS - Get Free Report)'s stock had its "hold (c+)" rating restated by analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the stock. Zacks Research raised shares of United Fire Group to a "strong-buy" rating in a report on Friday, August 8th. Jones Trading lifted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, United Fire Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.50.

United Fire Group Stock Performance

United Fire Group stock traded up $0.46 during trading on Friday, reaching $31.33. The company had a trading volume of 76,329 shares, compared to its average volume of 99,191. United Fire Group has a 52 week low of $19.33 and a 52 week high of $32.58. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $798.60 million, a price-to-earnings ratio of 8.93 and a beta of 0.49. The firm's 50-day simple moving average is $30.98 and its 200 day simple moving average is $28.98.

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

Insider Activity at United Fire Group

In other news, Director John Paul E. Besong sold 2,450 shares of the business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $32.26, for a total value of $79,037.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.12% of the company's stock.

Hedge Funds Weigh In On United Fire Group

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in United Fire Group during the first quarter valued at $559,000. Teacher Retirement System of Texas raised its stake in United Fire Group by 7.9% during the first quarter. Teacher Retirement System of Texas now owns 56,919 shares of the insurance provider's stock valued at $1,677,000 after purchasing an additional 4,148 shares in the last quarter. Quantbot Technologies LP raised its stake in United Fire Group by 859.3% during the first quarter. Quantbot Technologies LP now owns 8,797 shares of the insurance provider's stock valued at $259,000 after purchasing an additional 7,880 shares in the last quarter. GAMMA Investing LLC raised its stake in 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 purchasing an additional 970 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in United Fire Group by 3.7% during the first quarter. Vanguard Group Inc. now owns 1,399,527 shares of the insurance provider's stock valued at $41,230,000 after purchasing an additional 49,290 shares in the last quarter. Hedge funds and other institutional investors own 62.68% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.