United Fire Group (NASDAQ:UFCS) Stock Rating Lowered by Wall Street Zen
by Kim Johansen · The Markets DailyUnited Fire Group (NASDAQ:UFCS – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.
A number of other equities analysts also recently weighed in on UFCS. Weiss Ratings downgraded shares of United Fire Group from a “buy (a)” rating to a “buy (a-)” rating in a report on Wednesday. Zacks Research upgraded shares of United Fire Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 17th. Finally, Piper Sandler lowered their price objective on shares of United Fire Group from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Strong Buy” and a consensus target price of $51.50.
Check Out Our Latest Report on United Fire Group
United Fire Group Price Performance
UFCS stock opened at $47.73 on Friday. The stock’s fifty day simple moving average is $54.82 and its two-hundred day simple moving average is $46.97. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.16. United Fire Group has a 1-year low of $33.53 and a 1-year high of $58.19. The stock has a market cap of $1.23 billion, a P/E 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.11. United Fire Group had a return on equity of 14.57% and a net margin of 9.06%. The firm had revenue of $391.63 million during the quarter, compared to the consensus estimate of $384.18 million. Analysts expect that United Fire Group will post 5.07 EPS for the current year.
Insider Activity
In other United Fire Group news, Director Scott Carlton sold 9,777 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $55.52, for a total value of $542,819.04. Following the sale, the director directly owned 200,552 shares in the company, valued at $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 is available through the SEC website. 6.06% of the stock is currently owned by insiders.
Institutional Investors Weigh In On United Fire Group
Several large investors have recently added to or reduced their stakes in UFCS. Allworth Financial LP bought a new position in United Fire Group during the second quarter worth about $34,000. C M Bidwell & Associates Ltd. purchased a new position in shares of United Fire Group in the second quarter worth about $66,000. Integrated Wealth Concepts LLC bought a new stake in shares of United Fire Group in the second quarter valued at approximately $69,000. USA Financial Formulas bought a new stake in shares of United Fire Group in the third quarter valued at approximately $73,000. Finally, IFP Advisors Inc raised its position in shares of United Fire Group by 25.1% in the second quarter. IFP Advisors Inc now owns 1,400 shares of the insurance provider’s stock valued at $73,000 after purchasing an additional 281 shares during the period. Hedge funds and other institutional investors own 62.68% of the company’s stock.
About United Fire Group
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.