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

United Fire Group (NASDAQ:UFCS) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

Separately, Piper Sandler raised United Fire Group from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $19.00 to $26.00 in a report on Monday, November 18th.

United Fire Group Price Performance

Shares of NASDAQ:UFCS traded up $0.02 during trading on Monday, hitting $24.83. 97,676 shares of the company were exchanged, compared to its average volume of 138,075. The firm’s 50 day moving average price is $28.26 and its 200-day moving average price is $23.75. United Fire Group has a 12-month low of $18.04 and a 12-month high of $31.70. The stock has a market capitalization of $629.19 million, a P/E ratio of 12.80 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.60. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. The company had revenue of $322.96 million for the quarter, compared to analyst estimates of $306.80 million. During the same quarter last year, the company posted $0.31 earnings per share. As a group, equities research analysts anticipate that United Fire Group will post 1.84 EPS for the current year.

Insider Buying and Selling at United Fire Group

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $29.60, for a total value of $78,854.40. Following the completion of the sale, the vice president now owns 12,523 shares of the company’s stock, valued at approximately $370,680.80. This trade represents a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.99% of the company’s stock.

Hedge Funds Weigh In On United Fire Group

A number of hedge funds have recently made changes to their positions in UFCS. R Squared Ltd purchased a new position in United Fire Group in the 4th quarter valued at about $27,000. Point72 Asset Management L.P. lifted its holdings in shares of United Fire Group by 576.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 4,611 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of United Fire Group by 82.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock valued at $144,000 after acquiring an additional 3,098 shares during the period. Yousif Capital Management LLC acquired a new stake in shares of United Fire Group in the fourth quarter valued at approximately $231,000. Finally, Lion Street Advisors LLC bought a new stake in United Fire Group during the 4th quarter valued at $266,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

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.