United Fire Group (NASDAQ:UFCS) PT Lowered to $26.00

United Fire Group (NASDAQ:UFCS) had its price objective trimmed by Sidoti from $31.00 to $26.00 in a research note published on Friday, Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

UFCS has been the subject of several other reports. Zacks Investment Research raised United Fire Group from a sell rating to a buy rating and set a $27.00 price target on the stock in a research report on Saturday, September 5th. BidaskClub cut United Fire Group from a sell rating to a strong sell rating in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $27.67.

Shares of NASDAQ UFCS opened at $21.24 on Friday. United Fire Group has a 52-week low of $20.81 and a 52-week high of $47.94. The stock has a market cap of $531.66 million and a P/E ratio of -5.77. The firm has a 50 day moving average price of $25.26 and a 200 day moving average price of $28.05.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings results on Wednesday, August 5th. The insurance provider reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.01. United Fire Group had a negative net margin of 8.63% and a negative return on equity of 4.64%. The company had revenue of $297.80 million during the quarter, compared to analyst estimates of $285.10 million. On average, analysts forecast that United Fire Group will post -0.53 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend was Thursday, September 3rd. United Fire Group’s dividend payout ratio is -122.22%.

Several hedge funds have recently bought and sold shares of the company. Comerica Bank raised its position in United Fire Group by 3.6% in the 1st quarter. Comerica Bank now owns 20,725 shares of the insurance provider’s stock valued at $576,000 after buying an additional 715 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of United Fire Group by 155.7% in the first quarter. SG Americas Securities LLC now owns 7,391 shares of the insurance provider’s stock valued at $241,000 after purchasing an additional 4,501 shares during the last quarter. Rhumbline Advisers lifted its position in shares of United Fire Group by 6.4% in the first quarter. Rhumbline Advisers now owns 78,503 shares of the insurance provider’s stock worth $2,560,000 after purchasing an additional 4,753 shares in the last quarter. First Trust Advisors LP lifted its position in shares of United Fire Group by 7.7% in the first quarter. First Trust Advisors LP now owns 8,004 shares of the insurance provider’s stock worth $261,000 after purchasing an additional 573 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in United Fire Group by 30.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,793 shares of the insurance provider’s stock worth $58,000 after purchasing an additional 423 shares during the last quarter. 60.67% of the stock is owned by institutional investors.

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, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners.

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