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

United Fire Group, Inc (NASDAQ:UFCS) Director Christopher Drahozal sold 4,250 shares of United Fire Group stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $38.49, for a total transaction of $163,582.50. Following the sale, the director directly owned 429,113 shares in the company, valued at approximately $16,516,559.37. This trade represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

United Fire Group Price Performance

Shares of NASDAQ:UFCS traded up $0.57 during midday trading on Wednesday, hitting $39.05. The company’s stock had a trading volume of 125,826 shares, compared to its average volume of 124,663. 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 business’s 50 day simple moving average is $36.77 and its 200 day simple moving average is $34.34. United Fire Group, Inc has a 12-month low of $25.01 and a 12-month high of $40.63. The company has a market cap of $996.63 million, a P/E ratio of 8.72 and a beta of 0.44.

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, beating analysts’ consensus estimates of $0.90 by $0.60. United Fire Group had a return on equity of 13.84% and a net margin of 8.52%.The business had revenue of $365.81 million during the quarter, compared to analyst estimates of $332.34 million. On average, analysts forecast that United Fire Group, Inc will post 2.42 EPS for the current year.

United Fire Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be given a $0.20 dividend. The ex-dividend date is Tuesday, February 24th. This is a positive change from United Fire Group’s previous quarterly dividend of $0.16. This represents a $0.80 annualized dividend and a yield of 2.0%. United Fire Group’s dividend payout ratio (DPR) is currently 17.86%.

Institutional Trading of United Fire Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH acquired a new position in United Fire Group in the 3rd quarter valued at about $5,940,000. Ellsworth Advisors LLC acquired a new stake in United Fire Group during the 3rd quarter worth approximately $777,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of United Fire Group in the 2nd quarter valued at approximately $371,000. Inspire Investing LLC acquired a new position in shares of United Fire Group in the third quarter valued at approximately $998,000. Finally, Hillsdale Investment Management Inc. raised its stake in shares of United Fire Group by 16.0% during the third quarter. Hillsdale Investment Management Inc. now owns 227,268 shares of the insurance provider’s stock worth $6,913,000 after purchasing an additional 31,400 shares during the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. 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 research report on Monday. Piper Sandler raised 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 note on Thursday, February 12th. Zacks Research downgraded shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen raised United Fire Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of United Fire Group in a report on Monday, December 29th. Two equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.50.

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.