United Fire Group (NASDAQ:UFCS) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of United Fire Group (NASDAQ:UFCS) from a buy rating to a hold rating in a research report released on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Jones Trading lifted their price objective on shares of United Fire Group from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, August 11th. 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of United Fire Group in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, United Fire Group has a consensus rating of “Moderate Buy” and an average target price of $30.50.

United Fire Group Stock Up 0.5%

Shares of UFCS traded up $0.18 during trading hours on Friday, reaching $35.33. 157,601 shares of the stock traded hands, compared to its average volume of 124,299. United Fire Group has a 52 week low of $23.55 and a 52 week high of $35.84. The company has a market cap of $900.63 million, a price-to-earnings ratio of 10.07 and a beta of 0.49. The stock has a fifty day simple moving average of $31.17 and a 200 day simple moving average of $29.38. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.14.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, November 4th. The insurance provider reported $1.50 EPS for the quarter, beating the consensus estimate of $0.69 by $0.81. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. The company had revenue of $328.43 million during the quarter, compared to analysts’ expectations of $354.46 million. On average, equities analysts forecast that United Fire Group will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 annualized dividend and a yield of 1.8%. United Fire Group’s dividend payout ratio is 15.09%.

Insider Buying and Selling at United Fire Group

In related news, Director John Paul E. Besong sold 2,450 shares of United Fire Group stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $32.26, for a total value of $79,037.00. Following the completion of the sale, the director directly owned 24,494 shares in the company, valued at $790,176.44. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 6.12% of the company’s stock.

Institutional Trading of United Fire Group

Several institutional investors have recently modified their holdings of UFCS. Federated Hermes Inc. raised its stake in United Fire Group by 131.3% in the 1st quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 633 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in United Fire Group by 812.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,570 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 1,398 shares during the last quarter. Covestor Ltd grew its stake in United Fire Group by 3,351.1% during the 3rd quarter. Covestor Ltd now owns 1,622 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 1,575 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of United Fire Group by 301.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the insurance provider’s stock valued at $65,000 after purchasing an additional 1,699 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in United Fire Group by 17.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock valued at $74,000 after buying an additional 375 shares in the last quarter. Institutional investors and hedge funds 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.