United Fire Group, Inc. (NASDAQ:UFCS) Director Sells $70,825.00 in Stock

United Fire Group, Inc. (NASDAQ:UFCS) Director Christopher R. Drahozal sold 2,500 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $28.33, for a total value of $70,825.00. Following the completion of the sale, the director now directly owns 441,863 shares in the company, valued at $12,517,978.79. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

United Fire Group Trading Down 2.2 %

NASDAQ UFCS opened at $27.96 on Friday. The business’s 50-day moving average price is $26.51 and its 200 day moving average price is $24.70. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $31.70. The company has a market capitalization of $709.65 million, a PE ratio of 11.75 and a beta of 0.45.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data 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 return on equity of 8.84% and a net margin of 4.94%. Equities analysts predict that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.29%. United Fire Group’s dividend payout ratio (DPR) is 26.89%.

Wall Street Analysts Forecast Growth

UFCS has been the topic of several research reports. StockNews.com raised United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Piper Sandler increased their price objective on United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Jones Trading upgraded United Fire Group to a “strong-buy” rating and set a $32.00 target price on the stock in a research report on Wednesday.

Hedge Funds Weigh In On United Fire Group

A number of large investors have recently modified their holdings of UFCS. R Squared Ltd purchased a new position in shares of United Fire Group in the 4th quarter worth about $27,000. NewEdge Advisors LLC purchased a new position in shares of United Fire Group in the 4th quarter worth about $60,000. Aquatic Capital Management LLC raised its holdings in shares of United Fire Group by 716.3% in the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider’s stock worth $70,000 after purchasing an additional 2,149 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of United Fire Group by 576.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after buying an additional 4,611 shares during the period. Finally, Globeflex Capital L P purchased a new stake in shares of United Fire Group during the 4th quarter valued at about $119,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

United Fire Group Company Profile

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.