United Fire Group, Inc (NASDAQ:UFCS – Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $49.94 and last traded at $49.3240, with a volume of 39184 shares traded. The stock had previously closed at $48.06.
Analyst Ratings Changes
Several research firms have recently weighed in on UFCS. Weiss Ratings reissued a “buy (b)” rating on shares of United Fire Group in a research report on Wednesday. Zacks Research raised shares of United Fire Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Piper Sandler increased their price target on shares of United Fire Group from $45.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. JonesTrading raised their price target on shares of United Fire Group from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $51.00.
Read Our Latest Report on UFCS
United Fire Group Trading Up 2.7%
United Fire Group (NASDAQ:UFCS – Get Free Report) last issued its earnings results on Tuesday, May 5th. The insurance provider reported $1.16 EPS for the quarter, topping the consensus estimate of $0.87 by $0.29. The firm had revenue of $369.44 million during the quarter, compared to analysts’ expectations of $340.16 million. United Fire Group had a return on equity of 14.65% and a net margin of 9.16%. Analysts anticipate that United Fire Group, Inc will post 4.88 earnings per share for the current year.
Insider Activity
In other news, major shareholder Dee Ann Mcintyre sold 4,250 shares of United Fire Group stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $38.84, for a total transaction of $165,070.00. Following the sale, the insider directly owned 437,613 shares in the company, valued at approximately $16,996,888.92. The trade was a 0.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher R. Drahozal sold 4,250 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $38.49, for a total transaction of $163,582.50. Following the completion of the sale, the director directly owned 429,113 shares in the company, valued at approximately $16,516,559.37. The trade was a 0.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 12,750 shares of company stock worth $493,723. 6.06% of the stock is owned by company insiders.
Hedge Funds Weigh In On United Fire Group
A number of hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in United Fire Group by 129.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 387 shares during the period. Basepoint Wealth LLC bought a new position in shares of United Fire Group during the fourth quarter valued at $26,000. Federated Hermes Inc. boosted its stake in shares of United Fire Group by 109.5% in the 4th quarter. Federated Hermes Inc. now owns 1,190 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 622 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of United Fire Group in the 4th quarter valued at $48,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of United Fire Group in the 4th quarter worth about $53,000. 62.68% of the stock is owned by institutional investors and hedge funds.
United Fire Group Company Profile
United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.
United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.
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