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

United Fire Group (NASDAQ:UFCS) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

Separately, Piper Sandler raised shares of United Fire Group from an “underweight” rating to a “neutral” rating and upped their target price 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 opened at $25.06 on Wednesday. The company’s 50-day moving average price is $27.63 and its two-hundred day moving average price is $23.90. United Fire Group has a one year low of $18.04 and a one year high of $31.70. The stock has a market capitalization of $635.02 million, a PE ratio of 12.92 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (EPS) 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%. On average, analysts anticipate that United Fire Group will post 1.84 earnings per share for the current fiscal 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 stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $29.60, for a total value of $78,854.40. Following the transaction, the vice president now directly owns 12,523 shares of the company’s stock, valued at $370,680.80. This represents a 17.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in UFCS. SG Americas Securities LLC grew its position in shares of United Fire Group by 93.0% during the 3rd quarter. SG Americas Securities LLC now owns 13,758 shares of the insurance provider’s stock worth $288,000 after purchasing an additional 6,631 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of United Fire Group during the 3rd quarter worth approximately $761,000. Assenagon Asset Management S.A. grew its position in shares of United Fire Group by 42.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 315,779 shares of the insurance provider’s stock worth $6,609,000 after purchasing an additional 93,836 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of United Fire Group by 16.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 46,710 shares of the insurance provider’s stock worth $978,000 after purchasing an additional 6,640 shares in the last quarter. Finally, GSA Capital Partners LLP grew its position in shares of United Fire Group by 12.9% during the 3rd quarter. GSA Capital Partners LLP now owns 84,851 shares of the insurance provider’s stock worth $1,776,000 after purchasing an additional 9,704 shares in the last quarter. Institutional investors and hedge funds 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.