Christopher Drahozal Sells 4,250 Shares of United Fire Group (NASDAQ:UFCS) Stock

United Fire Group, Inc (NASDAQ:UFCS) Director Christopher Drahozal sold 4,250 shares of United Fire Group stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $38.84, for a total transaction of $165,070.00. Following the sale, the director directly owned 437,613 shares in the company, valued at approximately $16,996,888.92. The trade was a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

United Fire Group Trading Up 1.5%

Shares of NASDAQ UFCS traded up $0.57 during mid-day trading on Wednesday, reaching $39.05. 125,826 shares of the company’s stock were exchanged, compared to its average volume of 124,663. The company’s 50-day moving average is $36.77 and its 200-day moving average is $34.34. 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 has a market capitalization of $996.63 million, a price-to-earnings ratio of 8.72 and a beta of 0.44. United Fire Group, Inc has a 52-week low of $25.01 and a 52-week high of $40.63.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.60. The business had revenue of $365.81 million for 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%. Analysts expect that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, February 24th. This is an increase from United Fire Group’s previous quarterly dividend of $0.16. United Fire Group’s payout ratio is currently 17.86%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on UFCS shares. Wall Street Zen upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of United Fire Group in a research note on Monday, December 29th. JonesTrading upped their target price on shares of United Fire Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Piper Sandler increased their price objective on shares of United Fire Group from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Institutional Investors Weigh In On United Fire Group

A number of institutional investors and hedge funds have recently bought and sold shares of UFCS. GAMMA Investing LLC grew its holdings in shares of United Fire Group by 19.8% during the fourth quarter. GAMMA Investing LLC now owns 1,743 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 288 shares during the last quarter. EverSource Wealth Advisors LLC boosted 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 acquiring an additional 329 shares during the period. NewEdge Advisors LLC increased its holdings in shares of United Fire Group by 17.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 375 shares during the period. Smartleaf Asset Management LLC raised its position in United Fire Group by 129.4% in the 4th 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 during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in United Fire Group by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,883 shares of the insurance provider’s stock worth $226,000 after purchasing an additional 391 shares during the period. 62.68% of the stock is owned by hedge funds and other institutional investors.

United Fire Group Company Profile

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.