StockNews.com Upgrades United Fire Group (NASDAQ:UFCS) to Buy

by · The Markets Daily

StockNews.com upgraded shares of United Fire Group (NASDAQ:UFCS – Free Report) from a hold rating to a buy rating in a report published on Friday morning.

Separately, Piper Sandler lowered their price objective on shares of United Fire Group from $21.00 to $19.00 and set an underweight rating on the stock in a research note on Thursday, August 8th.

Read Our Latest Research Report on UFCS

United Fire Group Trading Up 2.1 %

NASDAQ UFCS opened at $20.10 on Friday. The company has a 50-day moving average price of $20.38 and a two-hundred day moving average price of $21.38. United Fire Group has a 52 week low of $18.04 and a 52 week high of $25.55. The stock has a market cap of $509.33 million, a price-to-earnings ratio of -29.13 and a beta of 0.36.

United Fire Group (NASDAQ:UFCS – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The insurance provider reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The company had revenue of $301.17 million for the quarter, compared to the consensus estimate of $300.80 million. United Fire Group had a net margin of 3.17% and a return on equity of 5.23%. During the same quarter in the prior year, the firm earned ($2.27) earnings per share. As a group, equities research analysts expect that United Fire Group will post 1.1 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, August 30th. This represents a $0.64 annualized dividend and a yield of 3.18%. United Fire Group’s dividend payout ratio is currently -92.75%.

Hedge Funds Weigh In On United Fire Group

Several large investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in shares of United Fire Group in the 2nd quarter worth approximately $65,000. Lion Street Advisors LLC acquired a new stake in shares of United Fire Group during the 2nd quarter valued at $201,000. Janus Henderson Group PLC bought a new stake in shares of United Fire Group during the 1st quarter worth $202,000. XTX Topco Ltd acquired a new position in shares of United Fire Group in the 2nd quarter worth $213,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of United Fire Group during the second quarter worth $223,000. Institutional investors own 62.68% of the company’s stock.

United Fire Group Company Profile

(Get Free Report)

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.

Further Reading