United Fire Group (NASDAQ:UFCS) Stock Rating Upgraded by Wall Street Zen

United Fire Group (NASDAQ:UFCS) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

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

United Fire Group Trading Up 1.2%

NASDAQ:UFCS opened at $38.53 on Friday. The stock has a fifty day simple moving average of $36.56 and a 200 day simple moving average of $33.92. The firm has a market capitalization of $982.90 million, a price-to-earnings ratio of 8.60 and a beta of 0.46. United Fire Group has a 1-year low of $25.01 and a 1-year high of $40.63. 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 posted its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.60. United Fire Group had a return on equity of 14.19% and a net margin of 8.52%.The firm had revenue of $365.81 million for the quarter, compared to the consensus estimate of $332.34 million. Sell-side analysts forecast that United Fire Group will post 2.42 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV bought a new position in shares of United Fire Group during the fourth quarter worth approximately $371,000. State of Tennessee Department of Treasury grew its position in United Fire Group by 4.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 15,983 shares of the insurance provider’s stock worth $574,000 after buying an additional 727 shares in the last quarter. Mackenzie Financial Corp bought a new position in United Fire Group during the 4th quarter worth $228,000. XTX Topco Ltd bought a new position in United Fire Group during the 4th quarter worth $218,000. Finally, Zacks Investment Management raised its holdings in United Fire Group by 36.0% in the 4th quarter. Zacks Investment Management now owns 87,973 shares of the insurance provider’s stock valued at $3,198,000 after acquiring an additional 23,273 shares in the last quarter. Institutional investors and hedge funds 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.