United Fire Group (UFCS) Downgraded to Buy at BidaskClub

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United Fire Group (NASDAQ:UFCS) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday, June 15th.

Several other research firms have also recently issued reports on UFCS. Sandler O’Neill cut United Fire Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 12th. ValuEngine cut United Fire Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 12th. Finally, Sidoti raised United Fire Group from a “neutral” rating to a “buy” rating in a research report on Thursday, February 15th.

United Fire Group opened at $53.88 on Friday, MarketBeat reports. The stock has a market cap of $1.37 billion, a PE ratio of 45.27 and a beta of 0.49. United Fire Group has a 1 year low of $38.95 and a 1 year high of $58.46.

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

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Elkfork Partners LLC purchased a new stake in United Fire Group during the 4th quarter valued at approximately $109,000. SG Americas Securities LLC purchased a new stake in United Fire Group during the 1st quarter valued at approximately $176,000. Xact Kapitalforvaltning AB purchased a new stake in United Fire Group during the 4th quarter valued at approximately $220,000. Canandaigua National Bank & Trust Co. purchased a new stake in United Fire Group during the 1st quarter valued at approximately $282,000. Finally, Teacher Retirement System of Texas purchased a new stake in United Fire Group during the 4th quarter valued at approximately $334,000. 60.02% of the stock is owned by hedge funds and other institutional investors.

United Fire Group Company Profile

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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