StockNews.com Lowers United Fire Group (NASDAQ:UFCS) to Hold

United Fire Group (NASDAQ:UFCS) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, Piper Sandler restated an “underweight” rating and set a $21.00 price objective on shares of United Fire Group in a research note on Monday, April 1st.

United Fire Group Trading Up 0.9 %

Shares of NASDAQ:UFCS traded up $0.21 on Wednesday, hitting $23.60. 119,453 shares of the company were exchanged, compared to its average volume of 86,976. The firm has a market capitalization of $596.61 million, a P/E ratio of -20.00 and a beta of 0.34. United Fire Group has a 1-year low of $18.41 and a 1-year high of $27.23. The stock’s 50 day moving average price is $22.20 and its 200 day moving average price is $21.57.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. United Fire Group had a negative return on equity of 4.38% and a negative net margin of 2.71%. The company had revenue of $287.32 million during the quarter, compared to analysts’ expectations of $278.70 million. On average, equities analysts predict that United Fire Group will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling

In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.15, for a total value of $55,375.00. Following the completion of the transaction, the director now owns 454,363 shares of the company’s stock, valued at $10,064,140.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other United Fire Group news, VP Micah G. Woolstenhulme bought 1,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $21.76 per share, for a total transaction of $32,640.00. Following the transaction, the vice president now directly owns 32,763 shares of the company’s stock, valued at approximately $712,922.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.15, for a total value of $55,375.00. Following the transaction, the director now owns 454,363 shares in the company, valued at approximately $10,064,140.45. The disclosure for this sale can be found here. 5.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in UFCS. Quantbot Technologies LP purchased a new position in shares of United Fire Group during the 3rd quarter valued at approximately $67,000. Tower Research Capital LLC TRC lifted its holdings in United Fire Group by 127.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,761 shares of the insurance provider’s stock valued at $96,000 after purchasing an additional 2,669 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in United Fire Group by 22.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 957 shares in the last quarter. Quest Partners LLC purchased a new position in United Fire Group in the 4th quarter valued at $113,000. Finally, New York State Common Retirement Fund lifted its holdings in United Fire Group by 17.8% in the 4th quarter. New York State Common Retirement Fund now owns 7,976 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 1,203 shares in the last quarter. Hedge funds and other institutional investors own 62.68% of the company’s stock.

United Fire Group Company Profile

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.