United Fire Group (NASDAQ:UFCS) Lowered to “Hold” Rating by Wall Street Zen

United Fire Group (NASDAQ:UFCS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

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

United Fire Group Price Performance

NASDAQ UFCS opened at $35.94 on Friday. The company has a market cap of $916.83 million, a PE ratio of 8.48 and a beta of 0.45. The firm’s 50 day moving average price is $36.05 and its 200-day moving average price is $32.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 0.37. United Fire Group has a 52-week low of $24.11 and a 52-week high of $37.90.

United Fire Group (NASDAQ:UFCS) last posted 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 during 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%. Sell-side analysts forecast that United Fire Group will post 2.42 EPS for the current fiscal year.

Hedge Funds Weigh In On United Fire Group

Several hedge funds and other institutional investors have recently modified their holdings of UFCS. EverSource Wealth Advisors LLC grew its position in United Fire Group by 812.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,570 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 1,398 shares during the last quarter. Covestor Ltd raised its holdings in shares of United Fire Group by 3,351.1% in the third quarter. Covestor Ltd now owns 1,622 shares of the insurance provider’s stock worth $49,000 after buying an additional 1,575 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of United Fire Group by 19.8% during the fourth quarter. GAMMA Investing LLC now owns 1,743 shares of the insurance provider’s stock worth $63,000 after buying an additional 288 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of United Fire Group by 301.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the insurance provider’s stock valued at $65,000 after buying an additional 1,699 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of United Fire Group by 17.7% during the first quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock valued at $74,000 after buying an additional 375 shares during the last quarter. 62.68% of the stock is owned by hedge funds and other institutional investors.

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.