Insider Selling: United Fire Group (NASDAQ:UFCS) Major Shareholder Sells $161,245.00 in Stock

United Fire Group, Inc (NASDAQ:UFCS) major shareholder Dee Ann Mcintyre sold 4,250 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.94, for a total transaction of $161,245.00. Following the transaction, the insider owned 433,363 shares of the company’s stock, valued at approximately $16,441,792.22. The trade was a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Dee Ann Mcintyre also recently made the following trade(s):

• On Monday, March 2nd, Dee Ann Mcintyre sold 4,250 shares of United Fire Group stock. The stock was sold at an average price of $38.84, for a total transaction of $165,070.00.

United Fire Group Trading Up 0.1%

NASDAQ:UFCS opened at $37.79 on Friday. United Fire Group, Inc has a 52 week low of $25.01 and a 52 week high of $40.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.33 and a current ratio of 0.33. The firm’s fifty day moving average is $36.85 and its 200-day moving average is $34.44. The firm has a market cap of $964.40 million, a P/E ratio of 8.44 and a beta of 0.44.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Wednesday, February 11th. The insurance provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.60. The business had revenue of $365.81 million during the quarter, compared to the consensus estimate of $332.34 million. United Fire Group had a net margin of 8.52% and a return on equity of 13.84%. Equities analysts expect that United Fire Group, Inc will post 2.42 earnings per share for the current year.

United Fire Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, February 24th. This is an increase from United Fire Group’s previous quarterly dividend of $0.16. United Fire Group’s dividend payout ratio (DPR) is 17.86%.

Hedge Funds Weigh In On United Fire Group

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in United Fire Group by 19.8% during the 4th quarter. GAMMA Investing LLC now owns 1,743 shares of the insurance provider’s stock worth $63,000 after acquiring an additional 288 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of United Fire Group by 23.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,726 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 329 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of United Fire Group by 17.7% in the first quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 375 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of United Fire Group by 129.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 387 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of United Fire Group by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 7,883 shares of the insurance provider’s stock valued at $226,000 after purchasing an additional 391 shares in the last quarter. 62.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UFCS. Piper Sandler boosted their price objective on United Fire Group from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Wall Street Zen cut United Fire Group from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research downgraded United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of United Fire Group in a research note on Monday, December 29th. Finally, JonesTrading increased their price target on United Fire Group from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

About United Fire Group

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.