trending Market Intelligence /marketintelligence/en/news-insights/trending/rkpxu_p9fyyedygfinj5fa2 content esgSubNav
In This List

Sandler O'Neill downgrades United Fire Group on valuation

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Sandler O'Neill downgrades United Fire Group on valuation

Sandler O'Neill & Partners analyst Paul Newsome has downgraded his rating on United Fire Group Inc. to "hold" from "buy" due to valuation.

Newsome noted that United Fire's stock has risen about 33% since he upgraded it to "buy" in the third quarter of 2017.

The analyst expects the company to continue to report a return on equity of about 7%. Newsome also expects United Fire to log second-quarter catastrophe losses of $28.2 million, though that number could come down, he added, as the spring storm season in the U.S. has been fairly mild.

Newsome's price target remains unchanged at $58, and his 2018 EPS estimate is still $2.45.