United Fire Group (NASDAQ:UFCS) Upgraded by Wall Street Zen to Buy Rating

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

UFCS has been the subject of a number of other research reports. Zacks Research cut shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Jones Trading upped their price target on United Fire Group from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of United Fire Group in a research note on Thursday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.00.

United Fire Group Stock Performance

Shares of United Fire Group stock opened at $37.11 on Friday. The firm has a market cap of $946.82 million, a PE ratio of 10.57 and a beta of 0.49. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.14. United Fire Group has a 52 week low of $24.11 and a 52 week high of $37.33. The business’s fifty day simple moving average is $31.75 and its 200-day simple moving average is $29.69.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, November 4th. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.81. The firm had revenue of $354.02 million for the quarter, compared to analyst estimates of $354.46 million. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. Equities analysts forecast that United Fire Group will post 2.42 earnings per share for the current year.

Insider Activity at United Fire Group

In other news, Director John Paul E. Besong sold 2,450 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $32.26, for a total value of $79,037.00. Following the sale, the director directly owned 24,494 shares in the company, valued at approximately $790,176.44. This trade represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.12% of the company’s stock.

Hedge Funds Weigh In On United Fire Group

Large investors have recently bought and sold shares of the business. Allianz Asset Management GmbH acquired a new stake in United Fire Group in the third quarter valued at $5,940,000. Invesco Ltd. increased its holdings in shares of United Fire Group by 108.8% in the 2nd quarter. Invesco Ltd. now owns 347,008 shares of the insurance provider’s stock valued at $9,959,000 after acquiring an additional 180,836 shares during the last quarter. CSM Advisors LLC acquired a new stake in shares of United Fire Group during the 2nd quarter worth about $4,154,000. AQR Capital Management LLC lifted its stake in United Fire Group by 59.5% during the second quarter. AQR Capital Management LLC now owns 301,076 shares of the insurance provider’s stock worth $8,641,000 after purchasing an additional 112,318 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in United Fire Group by 76.5% in the first quarter. American Century Companies Inc. now owns 252,449 shares of the insurance provider’s stock valued at $7,437,000 after purchasing an additional 109,453 shares in the last quarter. Hedge funds and other institutional investors own 62.68% of the company’s stock.

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.