Wall Street Zen Downgrades United Fire Group (NASDAQ:UFCS) to Hold

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

A number of other equities analysts have also recently issued reports on the company. Zacks Research cut United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. JonesTrading increased their target price on United Fire Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of United Fire Group in a research report on Monday, December 29th. Finally, Piper Sandler boosted their target price on shares of United Fire Group from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, United Fire Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

United Fire Group Stock Up 0.1%

Shares of NASDAQ UFCS opened at $37.79 on Friday. United Fire Group has a 1 year low of $25.01 and a 1 year high of $40.63. The firm has a 50-day simple moving average of $36.85 and a two-hundred day simple moving average of $34.49. The company has a market cap of $964.40 million, a P/E ratio of 8.44 and a beta of 0.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.33 and a quick ratio of 0.33.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Wednesday, February 11th. The insurance provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.60. United Fire Group had a return on equity of 13.84% and a net margin of 8.52%.The firm had revenue of $365.81 million for the quarter, compared to analysts’ expectations of $332.34 million. Research analysts anticipate that United Fire Group will post 2.42 earnings per share for the current year.

Insider Buying and Selling

In other United Fire Group news, Director Christopher R. Drahozal sold 4,250 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $38.49, for a total value 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. This represents a 0.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Dee Ann Mcintyre sold 4,250 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $38.84, for a total value of $165,070.00. Following the transaction, the insider directly owned 437,613 shares in the company, valued at $16,996,888.92. The trade was a 0.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,750 shares of company stock valued at $493,723 in the last quarter. 6.12% of the stock is owned by company insiders.

Institutional Trading of United Fire Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in United Fire Group by 129.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 387 shares in the last quarter. Basepoint Wealth LLC bought a new stake in shares of United Fire Group in the 4th quarter valued at about $26,000. Federated Hermes Inc. raised its holdings 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. EverSource Wealth Advisors LLC lifted its position in shares of United Fire Group by 812.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,570 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 1,398 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new position in shares of United Fire Group during the fourth quarter valued at approximately $48,000. 62.68% of the stock is currently owned by institutional investors.

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.