United Fire Group (NASDAQ:UFCS) Stock Price Expected to Rise, Piper Sandler Analyst Says

United Fire Group (NASDAQ:UFCS) had its target price lifted by stock analysts at Piper Sandler from $26.00 to $28.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 5.44% from the stock’s previous close.

Separately, StockNews.com raised United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

United Fire Group Price Performance

Shares of NASDAQ:UFCS traded up $0.94 during trading on Thursday, reaching $26.56. 120,347 shares of the stock were exchanged, compared to its average volume of 137,297. The stock has a fifty day moving average of $27.53 and a two-hundred day moving average of $23.91. United Fire Group has a 1-year low of $18.04 and a 1-year high of $31.70. The firm has a market cap of $672.90 million, a price-to-earnings ratio of 13.72 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. Sell-side analysts forecast that United Fire Group will post 1.84 EPS for the current year.

Insiders Place Their Bets

In other news, VP Corey Lynn Ruehle sold 2,664 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the completion of the sale, the vice president now owns 12,523 shares in the company, valued at $370,680.80. This trade represents a 17.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.99% of the company’s stock.

Institutional Trading of United Fire Group

Several hedge funds have recently made changes to their positions in UFCS. Barclays PLC grew its stake in shares of United Fire Group by 147.8% during the 3rd quarter. Barclays PLC now owns 44,380 shares of the insurance provider’s stock worth $928,000 after acquiring an additional 26,469 shares during the period. State Street Corp increased its stake in shares of United Fire Group by 2.2% in the third quarter. State Street Corp now owns 821,566 shares of the insurance provider’s stock worth $17,195,000 after purchasing an additional 17,415 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of United Fire Group by 27.3% in the third quarter. JPMorgan Chase & Co. now owns 99,623 shares of the insurance provider’s stock valued at $2,085,000 after purchasing an additional 21,352 shares during the period. HighTower Advisors LLC purchased a new stake in shares of United Fire Group during the 3rd quarter valued at approximately $256,000. Finally, Geode Capital Management LLC raised its holdings in United Fire Group by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider’s stock valued at $10,514,000 after acquiring an additional 2,925 shares during the period. 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.