Piper Sandler Raises United Fire Group (NASDAQ:UFCS) Price Target to $28.00

United Fire Group (NASDAQ:UFCS) had its price objective boosted by Piper Sandler from $26.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. Piper Sandler’s target price suggests a potential upside of 5.66% from the company’s previous close.

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

United Fire Group Stock Down 1.0 %

Shares of United Fire Group stock opened at $26.50 on Thursday. The company has a market cap of $671.51 million, a price-to-earnings ratio of 13.66 and a beta of 0.53. The company’s 50 day moving average is $27.33 and its 200 day moving average is $23.96. United Fire Group has a twelve month low of $18.04 and a twelve month high of $31.70.

United Fire Group (NASDAQ:UFCS) last issued 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 expect that United Fire Group will post 1.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other United Fire Group news, Director James Noyce purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were acquired at an average cost of $26.97 per share, for a total transaction of $53,940.00. Following the completion of the transaction, the director now owns 27,316 shares of the company’s stock, valued at approximately $736,712.52. The trade was a 7.90 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Corey Lynn Ruehle sold 2,664 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $29.60, for a total transaction of $78,854.40. Following the completion of the transaction, the vice president now owns 12,523 shares in the company, valued at $370,680.80. The trade was a 17.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.99% of the company’s stock.

Institutional Trading of United Fire Group

Several institutional investors and hedge funds have recently modified their holdings of UFCS. R Squared Ltd bought a new stake in shares of United Fire Group during the 4th quarter valued at $27,000. NewEdge Advisors LLC bought a new stake in shares of United Fire Group during the 4th quarter valued at $60,000. Aquatic Capital Management LLC raised its position in shares of United Fire Group by 716.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider’s stock valued at $70,000 after purchasing an additional 2,149 shares during the period. Point72 Asset Management L.P. raised its position in shares of United Fire Group by 576.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 4,611 shares during the period. Finally, Globeflex Capital L P bought a new stake in shares of United Fire Group during the 4th quarter valued at $119,000. 62.68% of the stock is currently owned by institutional investors.

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.