Christopher R. Drahozal Sells 2,500 Shares of United Fire Group, Inc. (NASDAQ:UFCS) Stock

United Fire Group, Inc. (NASDAQ:UFCS) Director Christopher R. Drahozal sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $28.33, for a total value of $70,825.00. Following the completion of the sale, the director now directly owns 441,863 shares in the company, valued at approximately $12,517,978.79. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

United Fire Group Trading Down 2.2 %

Shares of United Fire Group stock opened at $27.96 on Friday. The firm has a market capitalization of $709.65 million, a PE ratio of 11.75 and a beta of 0.45. United Fire Group, Inc. has a 12 month low of $18.04 and a 12 month high of $31.70. The business’s 50-day moving average price is $26.52 and its 200-day moving average price is $24.64.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. As a group, analysts predict that United Fire Group, Inc. will post 2.42 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, March 7th. United Fire Group’s payout ratio is presently 26.89%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. StockNews.com raised shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, Jones Trading raised shares of United Fire Group to a “strong-buy” rating and set a $32.00 price objective for the company in a report on Wednesday.

Institutional Trading of United Fire Group

Several hedge funds have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC bought a new position in shares of United Fire Group during the third quarter valued at about $2,740,000. JPMorgan Chase & Co. grew its position in United Fire Group by 78.6% during the 4th quarter. JPMorgan Chase & Co. now owns 177,877 shares of the insurance provider’s stock worth $5,061,000 after acquiring an additional 78,254 shares during the last quarter. Foundry Partners LLC grew its position in United Fire Group by 71.9% during the 3rd quarter. Foundry Partners LLC now owns 178,155 shares of the insurance provider’s stock worth $3,729,000 after acquiring an additional 74,540 shares during the last quarter. American Century Companies Inc. increased its stake in United Fire Group by 87.6% in the 4th quarter. American Century Companies Inc. now owns 142,996 shares of the insurance provider’s stock worth $4,068,000 after purchasing an additional 66,756 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in United Fire Group by 126.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,324 shares of the insurance provider’s stock valued at $2,497,000 after purchasing an additional 66,676 shares during the last quarter. 62.68% of the stock is owned by institutional investors.

About United Fire Group

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.