Wall Street Zen cut shares of United Fire Group (NASDAQ:UFCS – Free Report) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.
Other equities analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of United Fire Group from a “buy (a)” rating to a “buy (a-)” rating in a research report on Wednesday. Piper Sandler dropped their price target on shares of United Fire Group from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Zacks Research raised United Fire Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 17th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Strong Buy” and an average price target of $51.50.
View Our Latest Stock Analysis on United Fire Group
United Fire Group Trading Up 0.8%
NASDAQ UFCS opened at $47.73 on Friday. The firm has a 50 day simple moving average of $54.82 and a 200-day simple moving average of $46.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.34 and a current ratio of 0.35. United Fire Group has a one year low of $33.53 and a one year high of $58.19. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 9.13 and a beta of 0.55.
United Fire Group (NASDAQ:UFCS – Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. United Fire Group had a net margin of 9.06% and a return on equity of 14.57%. The firm had revenue of $391.63 million during the quarter, compared to analysts’ expectations of $384.18 million. Equities research analysts anticipate that United Fire Group will post 5.07 EPS for the current fiscal year.
United Fire Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, September 4th. United Fire Group’s dividend payout ratio (DPR) is presently 15.30%.
Insider Activity
In other news, Director Scott Carlton sold 9,777 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $55.52, for a total transaction of $542,819.04. Following the completion of the transaction, the director directly owned 200,552 shares of the company’s stock, valued at approximately $11,134,647.04. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.06% of the company’s stock.
Institutional Trading of United Fire Group
Hedge funds have recently added to or reduced their stakes in the company. Globeflex Capital L P purchased a new stake in shares of United Fire Group in the 2nd quarter valued at approximately $2,301,000. Legal & General Group Plc acquired a new stake in shares of United Fire Group in the 2nd quarter valued at $2,679,000. Man Group plc acquired a new stake in shares of United Fire Group in the 2nd quarter valued at $1,943,000. GSA Capital Partners LLP purchased a new stake in shares of United Fire Group during the 2nd quarter worth $1,677,000. Finally, Empowered Funds LLC purchased a new stake in shares of United Fire Group during the 2nd quarter worth $5,935,000. Institutional investors and hedge funds own 62.68% of the company’s stock.
United Fire Group Company Profile
United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company headquartered in Cedar Rapids, Iowa. Through its insurance subsidiaries, the company provides property and casualty insurance products to businesses, individuals, and organizations, primarily through a network of independent insurance agents.
Its product portfolio includes commercial property and liability coverage, commercial automobile insurance, workers’ compensation, surety bonds, and specialty insurance products.
Read More
- Five stocks we like better than United Fire Group
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Receive News & Ratings for United Fire Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Fire Group and related companies with MarketBeat.com's FREE daily email newsletter.
