Dee Ann Mcintyre Sells 4,250 Shares of United Fire Group (NASDAQ:UFCS) Stock

United Fire Group, Inc (NASDAQ:UFCS) major shareholder Dee Ann Mcintyre sold 4,250 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $38.84, for a total transaction of $165,070.00. Following the sale, the insider directly owned 437,613 shares of the company’s stock, valued at $16,996,888.92. This represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

United Fire Group Price Performance

UFCS stock opened at $37.77 on Friday. The company’s 50-day moving average price is $36.83 and its two-hundred day moving average price is $34.39. The firm has a market cap of $963.89 million, a P/E ratio of 8.43 and a beta of 0.44. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.16. United Fire Group, Inc has a 12 month low of $25.01 and a 12 month high of $40.63.

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

United Fire Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, February 24th. This is a positive change from United Fire Group’s previous quarterly dividend of $0.16. United Fire Group’s dividend payout ratio is 17.86%.

Analysts Set New Price Targets

Several analysts recently weighed in on UFCS shares. Zacks Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings restated a “buy (b-)” rating on shares of United Fire Group in a research note on Monday, December 29th. JonesTrading lifted their price target on shares of United Fire Group from $38.00 to $40.00 and gave the company a “buy” rating in a report on Monday. Wall Street Zen raised shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Piper Sandler raised their target price 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, United Fire Group presently has an average rating of “Moderate Buy” and a consensus price target of $40.50.

Institutional Investors Weigh In On United Fire Group

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in United Fire Group by 19.8% in the 4th quarter. GAMMA Investing LLC now owns 1,743 shares of the insurance provider’s stock valued at $63,000 after acquiring an additional 288 shares during the period. EverSource Wealth Advisors LLC increased its holdings in 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 period. NewEdge Advisors LLC increased its holdings in 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 period. Smartleaf Asset Management LLC raised its position in United Fire Group by 129.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 387 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings 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 buying an additional 391 shares during the period. 62.68% of the stock is currently owned by institutional investors and hedge funds.

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.