United Fire Group (NASDAQ:UFCS) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of United Fire Group (NASDAQ:UFCS) from a strong-buy rating to a buy rating in a report published on Thursday.

Separately, Piper Sandler reiterated an underweight rating and set a $21.00 target price on shares of United Fire Group in a research note on Monday, April 1st.

United Fire Group Stock Performance

UFCS stock opened at $21.01 on Thursday. United Fire Group has a twelve month low of $18.41 and a twelve month high of $25.55. The stock’s 50 day moving average is $22.25 and its 200-day moving average is $21.98.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. United Fire Group had a negative net margin of 1.50% and a negative return on equity of 2.63%. The company had revenue of $296.00 million for the quarter, compared to analyst estimates of $282.30 million. As a group, equities analysts predict that United Fire Group will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.05%. The ex-dividend date was Friday, May 31st. United Fire Group’s dividend payout ratio (DPR) is -92.75%.

Insider Transactions at United Fire Group

In other news, Director Christopher R. Drahozal sold 2,500 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $21.06, for a total value of $52,650.00. Following the completion of the transaction, the director now directly owns 449,363 shares of the company’s stock, valued at $9,463,584.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On United Fire Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its position in United Fire Group by 127.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,761 shares of the insurance provider’s stock worth $96,000 after buying an additional 2,669 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in United Fire Group by 22.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider’s stock valued at $104,000 after buying an additional 957 shares during the period. Quest Partners LLC bought a new stake in shares of United Fire Group in the 4th quarter valued at about $113,000. New York State Common Retirement Fund grew its position in United Fire Group by 17.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,976 shares of the insurance provider’s stock worth $160,000 after acquiring an additional 1,203 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of United Fire Group during the first quarter valued at approximately $202,000. 62.68% of the stock is owned by hedge funds and other 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.