United Fire Group (NASDAQ:UFCS) Upgraded at Jones Trading

Jones Trading upgraded shares of United Fire Group (NASDAQ:UFCS) to a strong-buy rating in a report published on Wednesday, MarketBeat reports. They currently have $32.00 target price on the insurance provider’s stock.

Several other analysts also recently weighed in on the company. StockNews.com upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Piper Sandler boosted their price target on shares of United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, February 13th.

United Fire Group Stock Down 2.2 %

Shares of United Fire Group stock opened at $27.96 on Wednesday. United Fire Group has a 52 week low of $18.04 and a 52 week high of $31.70. The company has a market capitalization of $709.65 million, a PE ratio of 11.75 and a beta of 0.45. The stock’s fifty day moving average is $26.52 and its two-hundred day moving average is $24.64.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.64. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. As a group, research analysts anticipate that United Fire Group will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, March 7th. United Fire Group’s payout ratio is 26.89%.

Insider Activity at United Fire Group

In other news, VP Corey Lynn Ruehle sold 2,664 shares of the stock in a transaction 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 sale, the vice president now owns 12,523 shares in the company, valued at approximately $370,680.80. This represents a 17.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Noyce acquired 2,000 shares of the stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $26.97 per share, with a total value of $53,940.00. Following the transaction, the director now directly owns 27,316 shares in the company, valued at approximately $736,712.52. This represents a 7.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 7,664 shares of company stock valued at $217,954 over the last quarter. 5.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UFCS. Los Angeles Capital Management LLC grew its stake in shares of United Fire Group by 16.6% during the third quarter. Los Angeles Capital Management LLC now owns 46,710 shares of the insurance provider’s stock worth $978,000 after acquiring an additional 6,640 shares during the last quarter. GSA Capital Partners LLP boosted its stake in United Fire Group by 12.9% in 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. Empowered Funds LLC grew its position in United Fire Group by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 71,070 shares of the insurance provider’s stock worth $1,487,000 after purchasing an additional 3,618 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in United Fire Group by 126.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,324 shares of the insurance provider’s stock valued at $2,497,000 after purchasing an additional 66,676 shares in the last quarter. Finally, Foundry Partners LLC raised its holdings in shares of United Fire Group by 71.9% in the third quarter. Foundry Partners LLC now owns 178,155 shares of the insurance provider’s stock worth $3,729,000 after buying an additional 74,540 shares during the last quarter. 62.68% of the stock is owned by institutional investors and hedge funds.

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.