United Fire Group (NASDAQ:UFCS) Shares Down 2.5%

United Fire Group, Inc. (NASDAQ:UFCS) traded down 2.5% during trading on Friday . The stock traded as low as $20.09 and last traded at $20.09. 1,421 shares were traded during mid-day trading, a decline of 99% from the average session volume of 102,526 shares. The stock had previously closed at $20.61.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler reduced their target price on United Fire Group from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. StockNews.com lowered shares of United Fire Group from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.

United Fire Group Stock Performance

The firm has a 50-day moving average of $20.79 and a 200-day moving average of $21.85. The firm has a market capitalization of $517.19 million, a P/E ratio of -29.87 and a beta of 0.38.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). United Fire Group had a return on equity of 5.23% and a net margin of 3.17%. The business had revenue of $301.17 million during the quarter, compared to analysts’ expectations of $300.80 million. During the same quarter in the prior year, the firm earned ($2.27) EPS. On average, research analysts forecast that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, August 30th. United Fire Group’s dividend payout ratio is currently -92.75%.

Insider Transactions at United Fire Group

In related news, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $21.06, for a total transaction of $52,650.00. Following the transaction, the director now owns 449,363 shares in the company, valued at $9,463,584.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased 2,500 shares of company stock worth $50,310 over the last three months. 5.99% of the stock is currently owned by company insiders.

Institutional Trading of United Fire Group

Large investors have recently modified their holdings of the company. Systematic Financial Management LP boosted its position in United Fire Group by 11.6% in the second quarter. Systematic Financial Management LP now owns 437,584 shares of the insurance provider’s stock worth $9,404,000 after purchasing an additional 45,405 shares during the last quarter. Millennium Management LLC lifted its stake in shares of United Fire Group by 40.8% in the 2nd quarter. Millennium Management LLC now owns 234,214 shares of the insurance provider’s stock worth $5,033,000 after purchasing an additional 67,838 shares during the period. Earnest Partners LLC boosted its holdings in shares of United Fire Group by 2.2% in the second quarter. Earnest Partners LLC now owns 1,293,367 shares of the insurance provider’s stock worth $27,794,000 after buying an additional 27,376 shares during the last quarter. AQR Capital Management LLC grew its position in United Fire Group by 24.3% during the second quarter. AQR Capital Management LLC now owns 84,253 shares of the insurance provider’s stock valued at $1,811,000 after buying an additional 16,495 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in United Fire Group during the second quarter valued at approximately $453,000. Institutional investors own 62.68% of the company’s stock.

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.