Piper Sandler lowered the firm’s price target on United Fire Group to $18 from $19 and keeps an Underweight rating on the shares. The analyst thinks the Q3 reports for the insurance sector will be similar to Q2. It will be a mixed quarter with some positives and some negatives, the analyst tells investors in a research note. The firm believes he main bullish points will be continued pricing acceleration in both commercial and personal lines, while the main negative may be personal lines continuing to be unprofitable.
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Read More on UFCS:
- United Fire Group, Inc. Declares a Common Stock Quarterly Cash Dividend of $0.16 per Share
- AM Best downgrades credit ratings of United Fire Group, Inc. and its property/casualty subsidiaries to A- (Excellent) with stable outlook
- United Fire Group price target lowered to $19 from $20 at Piper Sandler
- United Fire Group, Inc. Reports Second Quarter 2023 Results
