United Fire Group (NASDAQ:UFCS) Rating Lowered to “Hold” at Wall Street Zen

United Fire Group (NASDAQ:UFCS) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other research analysts also recently commented on the company. Zacks Research downgraded United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Jones Trading increased their price target on United Fire Group from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of United Fire Group in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, United Fire Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

United Fire Group Trading Up 0.5%

Shares of UFCS opened at $35.33 on Friday. The firm has a market capitalization of $900.63 million, a price-to-earnings ratio of 10.07 and a beta of 0.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.37 and a quick ratio of 0.37. United Fire Group has a 1-year low of $23.55 and a 1-year high of $35.84. The company has a 50-day moving average of $31.17 and a 200 day moving average of $29.39.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, November 4th. The insurance provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.81. The business had revenue of $328.43 million for the quarter, compared to the consensus estimate of $354.46 million. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. On average, research analysts expect that United Fire Group will post 2.42 EPS for the current year.

Insider Buying and Selling at United Fire Group

In related news, Director John Paul E. Besong sold 2,450 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $32.26, for a total transaction of $79,037.00. Following the sale, the director owned 24,494 shares of the company’s stock, valued at $790,176.44. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.12% of the stock is owned by company insiders.

Institutional Trading of United Fire Group

Several hedge funds have recently modified their holdings of the company. Federated Hermes Inc. grew its position in shares of United Fire Group by 131.3% in the 1st quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider’s stock worth $33,000 after buying an additional 633 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in United Fire Group by 812.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,570 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 1,398 shares in the last quarter. Covestor Ltd grew its holdings in United Fire Group by 3,351.1% in the third quarter. Covestor Ltd now owns 1,622 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 1,575 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in United Fire Group by 301.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 1,699 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of United Fire Group by 17.7% during the first quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 375 shares in the last quarter. 62.68% of the stock is owned by hedge funds and other 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.