United Fire Group (UFCS) Downgraded by ValuEngine

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ValuEngine cut shares of United Fire Group (NASDAQ:UFCS) from a buy rating to a hold rating in a report published on Wednesday morning.

Separately, BidaskClub raised shares of United Fire Group from a hold rating to a buy rating in a research report on Friday, July 27th.

Shares of UFCS stock traded down $0.27 during trading hours on Wednesday, hitting $50.55. 58,455 shares of the company were exchanged, compared to its average volume of 68,992. United Fire Group has a one year low of $38.95 and a one year high of $61.56. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 26.88 and a beta of 0.35.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Wednesday, August 8th. The insurance provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.24). United Fire Group had a return on equity of 5.00% and a net margin of 9.44%. The company had revenue of $274.10 million for the quarter.

In other United Fire Group news, VP Neal R. Scharmer sold 1,015 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $50.09, for a total value of $50,841.35. Following the transaction, the vice president now owns 16,356 shares of the company’s stock, valued at $819,272.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Neal R. Scharmer sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $53.00, for a total transaction of $265,000.00. The disclosure for this sale can be found here. Insiders have sold 7,742 shares of company stock worth $410,826 in the last ninety days. Corporate insiders own 6.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of UFCS. First Republic Investment Management Inc. bought a new position in United Fire Group in the second quarter worth about $221,000. WINTON GROUP Ltd bought a new position in United Fire Group in the third quarter worth about $236,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in United Fire Group in the second quarter worth about $244,000. Nisa Investment Advisors LLC lifted its holdings in United Fire Group by 2,831.7% in 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. Finally, SG Americas Securities LLC increased its stake in shares of United Fire Group by 140.0% in the second quarter. SG Americas Securities LLC now owns 8,819 shares of the insurance provider’s stock valued at $481,000 after purchasing an additional 5,145 shares during the period. 60.35% of the stock is currently owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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