United Fire Group (NASDAQ:UFCS) Director George Milligan Purchases 5,000 Shares of Company Stock

United Fire Group, Inc (NASDAQ:UFCS) Director George Milligan bought 5,000 shares of United Fire Group stock in a transaction on Friday, November 6th. The stock was acquired at an average price of $47.41 per share, for a total transaction of $237,050.00. Following the transaction, the director directly owned 95,034 shares of the company’s stock, valued at approximately $4,505,561.94. This trade represents a 5.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

United Fire Group Stock Performance

Shares of United Fire Group stock opened at $48.87 on Tuesday. The firm has a market cap of $1.26 billion, a PE ratio of 9.34 and a beta of 0.55. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.15. United Fire Group, Inc has a 52 week low of $33.53 and a 52 week high of $58.19. The business’s fifty day simple moving average is $54.71 and its 200-day simple moving average is $47.04.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.11. The firm had revenue of $391.63 million during the quarter, compared to the consensus estimate of $384.18 million. United Fire Group had a return on equity of 14.50% and a net margin of 9.06%. Equities analysts forecast that United Fire Group, Inc will post 5.07 earnings per share for the current year.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a dividend of $0.20 per share. The ex-dividend date was Friday, September 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.6%. United Fire Group’s dividend payout ratio (DPR) is currently 15.30%.

Institutional Trading of United Fire Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of United Fire Group during the second quarter worth about $183,136,000. Dimensional Fund Advisors LP grew its holdings in shares of United Fire Group by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,489,968 shares of the insurance provider’s stock valued at $55,219,000 after purchasing an additional 12,329 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of United Fire Group in the second quarter valued at approximately $24,936,000. Hillsdale Investment Management Inc. increased its stake in United Fire Group by 5.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 211,768 shares of the insurance provider’s stock worth $7,848,000 after buying an additional 10,000 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in United Fire Group during the 2nd quarter worth approximately $9,720,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of United Fire Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 17th. Wall Street Zen cut shares of United Fire Group from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler lowered their price objective on shares of United Fire Group from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, November 5th. Finally, Weiss Ratings downgraded shares of United Fire Group from a “buy (a)” rating to a “buy (a-)” rating in a report on Wednesday, November 4th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Strong Buy” and a consensus target price of $51.50.

United Fire Group Company Profile