United Fire Group (NASDAQ:UFCS) Upgraded at Wall Street Zen

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

A number of other research firms have also weighed in on UFCS. JonesTrading lifted their price objective on United Fire Group from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of United Fire Group in a report on Monday, December 29th. Zacks Research downgraded United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Piper Sandler upped their price objective on United Fire Group from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, United Fire Group presently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

United Fire Group Stock Performance

Shares of NASDAQ UFCS opened at $38.03 on Friday. The company has a 50 day simple moving average of $36.58 and a two-hundred day simple moving average of $33.99. The stock has a market cap of $970.15 million, a price-to-earnings ratio of 8.49 and a beta of 0.46. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. United Fire Group has a 12 month low of $25.01 and a 12 month high of $40.63.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.60. The firm had revenue of $365.81 million for the quarter, compared to analyst estimates of $332.34 million. United Fire Group had a net margin of 8.52% and a return on equity of 14.19%. As a group, analysts predict that United Fire Group will post 2.42 earnings per share for the current year.

United Fire Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a dividend of $0.20 per share. This is a positive change from United Fire Group’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, February 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. United Fire Group’s payout ratio is 14.29%.

Institutional Investors Weigh In On United Fire Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in UFCS. Allianz Asset Management GmbH acquired a new stake in United Fire Group in the 3rd quarter worth about $5,940,000. Invesco Ltd. lifted its position in shares of United Fire Group by 108.8% in the second quarter. Invesco Ltd. now owns 347,008 shares of the insurance provider’s stock valued at $9,959,000 after acquiring an additional 180,836 shares in the last quarter. Royce & Associates LP boosted its stake in shares of United Fire Group by 236.4% in the fourth quarter. Royce & Associates LP now owns 235,925 shares of the insurance provider’s stock worth $8,576,000 after acquiring an additional 165,789 shares during the last quarter. CSM Advisors LLC purchased a new stake in shares of United Fire Group during the second quarter worth approximately $4,154,000. Finally, AQR Capital Management LLC raised its stake in United Fire Group by 59.5% in the 2nd quarter. AQR Capital Management LLC now owns 301,076 shares of the insurance provider’s stock valued at $8,641,000 after purchasing an additional 112,318 shares during 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 (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.