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

United Fire Group, Inc (NASDAQ:UFCS) major shareholder Dee Ann Mcintyre sold 4,250 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $38.84, for a total value of $165,070.00. Following the sale, the insider directly owned 437,613 shares in the company, 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 SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

United Fire Group Stock Down 2.7%

NASDAQ:UFCS traded down $1.05 during midday trading on Thursday, reaching $38.00. The company had a trading volume of 12,131 shares, compared to its average volume of 121,934. United Fire Group, Inc has a 12-month low of $25.01 and a 12-month high of $40.63. The firm has a market capitalization of $969.76 million, a price-to-earnings ratio of 8.48 and a beta of 0.44. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $36.81 and its 200-day simple moving average is $34.37.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.60. The company had revenue of $365.81 million for the quarter, compared to the consensus estimate of $332.34 million. United Fire Group had a return on equity of 13.84% and a net margin of 8.52%. On average, sell-side 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.1%. This is a positive change from United Fire Group’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, February 24th. United Fire Group’s dividend payout ratio is 17.86%.

Analyst Ratings Changes

Several research analysts have commented on the stock. JonesTrading boosted their price target on shares of United Fire Group from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday. 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 report 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. Finally, Piper Sandler upped their price objective on United Fire Group from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Institutional Investors Weigh In On United Fire Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its stake in United Fire Group by 129.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 387 shares in the last quarter. Basepoint Wealth LLC purchased a new stake in shares of United Fire Group in the 4th quarter valued at about $26,000. Federated Hermes Inc. lifted its holdings in shares of United Fire Group by 109.5% in the 4th quarter. Federated Hermes Inc. now owns 1,190 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 622 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of United Fire Group in the 4th quarter valued at about $48,000. Finally, Meeder Asset Management Inc. purchased a new position in United Fire Group during the 4th quarter worth approximately $53,000. 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.