United Fire Group (NASDAQ:UFCS) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of United Fire Group (NASDAQ:UFCS) from a hold rating to a buy rating in a research note released on Friday, BidAskClub reports.

Separately, TheStreet upgraded shares of United Fire Group from a c+ rating to a b- rating in a research report on Wednesday, June 5th.

NASDAQ:UFCS traded up $1.67 during mid-day trading on Friday, hitting $53.28. The company’s stock had a trading volume of 91,993 shares, compared to its average volume of 61,454. United Fire Group has a 1 year low of $40.86 and a 1 year high of $58.03. The company has a market capitalization of $1.32 billion, a PE ratio of 90.12 and a beta of -0.10. The business’s fifty day moving average price is $48.97.

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

In related news, VP Neal R. Scharmer sold 3,041 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $48.88, for a total transaction of $148,644.08. Following the completion of the transaction, the vice president now owns 16,422 shares in the company, valued at approximately $802,707.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Neal R. Scharmer sold 985 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $48.93, for a total transaction of $48,196.05. Following the transaction, the vice president now owns 16,662 shares of the company’s stock, valued at approximately $815,271.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,026 shares of company stock valued at $394,639. Insiders own 6.66% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC raised its position in shares of United Fire Group by 3.6% during the 1st quarter. Mason Street Advisors LLC now owns 6,855 shares of the insurance provider’s stock worth $300,000 after purchasing an additional 237 shares during the last quarter. Piedmont Investment Advisors Inc. raised its position in shares of United Fire Group by 5.7% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 5,358 shares of the insurance provider’s stock worth $234,000 after purchasing an additional 291 shares during the last quarter. Arizona State Retirement System raised its position in shares of United Fire Group by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 33,231 shares of the insurance provider’s stock worth $1,610,000 after purchasing an additional 303 shares during the last quarter. Strs Ohio raised its position in shares of United Fire Group by 7.7% during the 2nd quarter. Strs Ohio now owns 5,600 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 400 shares during the last quarter. Finally, 6 Meridian raised its position in shares of United Fire Group by 3.1% during the 2nd quarter. 6 Meridian now owns 13,450 shares of the insurance provider’s stock worth $652,000 after purchasing an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 62.19% of the company’s stock.

About United Fire Group

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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