United Fire Group (NASDAQ:UFCS) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Separately, BidaskClub lowered United Fire Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 9th.
Get United Fire Group alerts:Shares of NASDAQ UFCS opened at $50.12 on Wednesday. The firm has a market capitalization of $1.38 billion, a P/E ratio of 29.59 and a beta of 0.11. United Fire Group has a one year low of $42.65 and a one year high of $61.56.
United Fire Group (NASDAQ:UFCS) last issued its earnings results on Wednesday, February 20th. The insurance provider reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.53). The firm had revenue of $279.65 million during the quarter. United Fire Group had a net margin of 9.44% and a return on equity of 5.00%.
In other United Fire Group news, VP David E. Conner sold 6,742 shares of the company’s stock in a transaction on Thursday, January 3rd. The stock was sold at an average price of $55.00, for a total value of $370,810.00. Following the sale, the vice president now directly owns 11,967 shares in the company, valued at $658,185. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Barrie W. Ernst sold 9,580 shares of the company’s stock in a transaction on Monday, December 31st. The shares were sold at an average price of $55.00, for a total value of $526,900.00. Following the completion of the sale, the vice president now owns 17,010 shares in the company, valued at $935,550. The disclosure for this sale can be found here. Insiders sold 18,222 shares of company stock worth $1,002,210 over the last quarter. Company insiders own 6.24% of the company’s stock.
Large investors have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of United Fire Group by 5.8% in the second quarter. Bank of America Corp DE now owns 109,640 shares of the insurance provider’s stock valued at $5,976,000 after purchasing an additional 5,963 shares during the period. Nisa Investment Advisors LLC boosted its position in United Fire Group by 2,831.7% during the third quarter. Nisa Investment Advisors LLC now owns 9,235 shares of the insurance provider’s stock worth $469,000 after acquiring an additional 8,920 shares during the last quarter. First Trust Advisors LP boosted its position in United Fire Group by 13.6% during the third quarter. First Trust Advisors LP now owns 20,640 shares of the insurance provider’s stock worth $1,048,000 after acquiring an additional 2,469 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in United Fire Group during the third quarter worth about $1,712,000. Finally, Victory Capital Management Inc. boosted its position in United Fire Group by 72.0% during the third quarter. Victory Capital Management Inc. now owns 261,490 shares of the insurance provider’s stock worth $13,276,000 after acquiring an additional 109,420 shares during the last quarter. Hedge funds and other institutional investors own 62.99% 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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