United Fire Group (NASDAQ:UFCS) Upgraded at BidaskClub

United Fire Group (NASDAQ:UFCS) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Friday, June 7th, BidAskClub reports.

UFCS has been the topic of a number of other research reports. ValuEngine cut United Fire Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. TheStreet cut United Fire Group from a “b” rating to a “c+” rating in a report on Thursday, February 21st.

Shares of UFCS traded up $0.29 during midday trading on Friday, reaching $48.75. 38,805 shares of the stock were exchanged, compared to its average volume of 69,321. United Fire Group has a twelve month low of $40.86 and a twelve month high of $61.56. The stock has a market capitalization of $1.22 billion, a P/E ratio of 83.55 and a beta of -0.09. The firm has a 50 day moving average of $47.46.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.38. United Fire Group had a return on equity of 1.63% and a net margin of 2.35%. The company had revenue of $332.25 million for the quarter.

In other United Fire Group news, VP David E. Conner sold 30,011 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $41.34, for a total value of $1,240,654.74. Following the transaction, the vice president now directly owns 9,450 shares of the company’s stock, valued at $390,663. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Neal R. Scharmer sold 3,041 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $48.88, for a total value of $148,644.08. Following the transaction, the vice president now directly owns 16,422 shares in the company, valued at $802,707.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,213 shares of company stock worth $1,544,641. Insiders own 6.66% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Quantamental Technologies LLC bought a new stake in United Fire Group during the fourth quarter worth $50,000. Bank of Montreal Can grew its stake in United Fire Group by 56.0% in the 1st quarter. Bank of Montreal Can now owns 1,164 shares of the insurance provider’s stock valued at $50,000 after purchasing an additional 418 shares during the period. Quadrant Capital Group LLC grew its stake in United Fire Group by 375.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,501 shares of the insurance provider’s stock valued at $61,000 after purchasing an additional 1,185 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in United Fire Group in the 4th quarter valued at $139,000. Finally, LS Investment Advisors LLC grew its stake in United Fire Group by 320.7% in the 4th quarter. LS Investment Advisors LLC now owns 2,625 shares of the insurance provider’s stock valued at $146,000 after purchasing an additional 2,001 shares during the period. Institutional investors and hedge funds own 62.25% of the company’s stock.

United Fire Group Company Profile

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, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners.

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