United Fire Group (NASDAQ:UFCS) Given New $28.00 Price Target at Piper Sandler

United Fire Group (NASDAQ:UFCS) had its price objective lifted by equities researchers at Piper Sandler from $26.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. Piper Sandler’s price objective points to a potential upside of 5.44% from the company’s previous close.

Separately, StockNews.com upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

United Fire Group Trading Up 3.6 %

NASDAQ:UFCS traded up $0.94 during mid-day trading on Thursday, hitting $26.56. 120,347 shares of the company’s stock were exchanged, compared to its average volume of 137,297. United Fire Group has a fifty-two week low of $18.04 and a fifty-two week high of $31.70. The firm has a market capitalization of $672.90 million, a P/E ratio of 13.72 and a beta of 0.53. The company has a 50 day simple moving average of $27.53 and a 200-day simple moving average of $23.91.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. As a group, analysts expect that United Fire Group will post 1.84 earnings per share for the current year.

Insider Transactions at United Fire Group

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the sale, the vice president now owns 12,523 shares of the company’s stock, valued at approximately $370,680.80. This represents a 17.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Integrated Quantitative Investments LLC bought a new stake in shares of United Fire Group during the 4th quarter valued at about $947,000. Trexquant Investment LP bought a new position in shares of United Fire Group during the 4th quarter worth approximately $1,483,000. Arrowstreet Capital Limited Partnership grew its position in shares of United Fire Group by 30.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 118,291 shares of the insurance provider’s stock worth $3,365,000 after buying an additional 27,748 shares during the period. JPMorgan Chase & Co. increased its stake in shares of United Fire Group by 78.6% in the 4th quarter. JPMorgan Chase & Co. now owns 177,877 shares of the insurance provider’s stock valued at $5,061,000 after acquiring an additional 78,254 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of United Fire Group during the 4th quarter valued at $330,000. 62.68% of the stock is owned by institutional investors.

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; and reinsurance coverage for property and casualty insurance. Its commercial lines include fire and allied lines, other liability, automobile, workers’ compensation, fidelity and surety coverage, and other insurance products; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners, as well as provides assumed reinsurance products.