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

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

A number of other equities research analysts have also recently issued reports on UFCS. Weiss Ratings reissued a “buy (b-)” rating on shares of United Fire Group in a research report on Monday, December 29th. Zacks Research downgraded shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Piper Sandler increased their target price on shares of United Fire Group from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Finally, Jones Trading raised their target price on shares of United Fire Group from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, United Fire Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

United Fire Group Trading Up 1.4%

Shares of NASDAQ:UFCS opened at $36.43 on Friday. United Fire Group has a 12-month low of $24.11 and a 12-month high of $37.90. The stock has a market cap of $929.33 million, a PE ratio of 8.59 and a beta of 0.46. The business has a 50 day moving average of $36.05 and a 200-day moving average of $32.85. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.16.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Tuesday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.81. The company had revenue of $354.02 million for the quarter, compared to analyst estimates of $354.46 million. United Fire Group had a return on equity of 13.64% and a net margin of 8.22%. As a group, equities research analysts forecast that United Fire Group will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.16 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.64 annualized dividend and a dividend yield of 1.8%. United Fire Group’s payout ratio is presently 15.09%.

Institutional Trading of United Fire Group

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised 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 valued at $45,000 after purchasing an additional 1,398 shares in the last quarter. Covestor Ltd increased its stake in shares of United Fire Group by 3,351.1% in the 3rd quarter. Covestor Ltd now owns 1,622 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 1,575 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of United Fire Group by 19.8% during the 4th quarter. GAMMA Investing LLC now owns 1,743 shares of the insurance provider’s stock worth $63,000 after buying an additional 288 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of United Fire Group by 301.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the insurance provider’s stock worth $65,000 after buying an additional 1,699 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of United Fire Group by 17.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock worth $74,000 after buying an additional 375 shares during the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

About United Fire Group

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.