BidaskClub Downgrades United Fire Group (UFCS) to Buy

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United Fire Group (NASDAQ:UFCS) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Other research analysts have also issued research reports about the stock. Sandler O’Neill reiterated a “buy” rating and issued a $53.00 price target on shares of United Fire Group in a research note on Friday, April 6th. ValuEngine upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Sidoti upgraded shares of United Fire Group from a “neutral” rating to a “buy” rating in a research note on Thursday, February 15th.

Shares of UFCS stock opened at $54.06 on Friday. The stock has a market capitalization of $1.40 billion, a PE ratio of 46.28 and a beta of 0.49. United Fire Group has a 52-week low of $38.95 and a 52-week high of $58.46.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Wednesday, May 9th. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.17. United Fire Group had a net margin of 7.11% and a return on equity of 3.25%. The company had revenue of $258.66 million for the quarter. During the same period in the previous year, the company posted $0.67 earnings per share.

In other United Fire Group news, Director Mary K. Quass sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $50.95, for a total transaction of $152,850.00. Following the transaction, the director now owns 18,632 shares in the company, valued at approximately $949,300.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dawn M. Jaffray sold 10,386 shares of the stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $55.30, for a total transaction of $574,345.80. Following the transaction, the chief financial officer now owns 16,155 shares in the company, valued at approximately $893,371.50. The disclosure for this sale can be found here. 6.24% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Elkfork Partners LLC acquired a new position in shares of United Fire Group during the 4th quarter worth approximately $109,000. SG Americas Securities LLC acquired a new position in shares of United Fire Group during the 1st quarter worth approximately $176,000. Xact Kapitalforvaltning AB acquired a new position in shares of United Fire Group during the 4th quarter worth approximately $220,000. Canandaigua National Bank & Trust Co. acquired a new position in shares of United Fire Group during the 1st quarter worth approximately $282,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of United Fire Group during the 4th quarter worth approximately $334,000. Hedge funds and other institutional investors own 60.02% of the company’s stock.

About United Fire Group

United Fire Group, Inc, together with its subsidiaries, provides insurance protection for individuals and businesses in the United States. The company operates through two segments, Property and Casualty Insurance, and Life Insurance. The Property and Casualty Insurance segment offers commercial and personal lines of property and casualty insurance, as well as assumed reinsurance products.

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