United Fire Group (NASDAQ:UFCS) Hits New 52-Week High – Here’s What Happened

United Fire Group, Inc (NASDAQ:UFCS)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $37.99 and last traded at $37.71, with a volume of 1886 shares traded. The stock had previously closed at $36.83.

Analyst Upgrades and Downgrades

UFCS has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of United Fire Group in a research report on Monday, December 29th. Wall Street Zen cut United Fire Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Jones Trading lifted their price target on shares of United Fire Group from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Piper Sandler increased their price target on United Fire Group from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Finally, Zacks Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

United Fire Group Stock Down 0.9%

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a 50 day simple moving average of $36.04 and a two-hundred day simple moving average of $32.97. The stock has a market cap of $948.84 million, a P/E ratio of 8.77 and a beta of 0.46.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.81. The company had revenue of $354.02 million for the quarter, compared to analyst estimates of $354.46 million. United Fire Group had a return on equity of 13.64% and a net margin of 8.22%. Equities research analysts predict that United Fire Group, Inc will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, December 5th. United Fire Group’s dividend payout ratio (DPR) is currently 15.09%.

Hedge Funds Weigh In On United Fire Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UFCS. Vanguard Group Inc. increased its position in shares of United Fire Group by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,511,541 shares of the insurance provider’s stock valued at $54,945,000 after purchasing an additional 35,338 shares during the period. Arizona State Retirement System bought a new position in United Fire Group during the fourth quarter valued at about $220,000. CWM LLC boosted its stake in United Fire Group by 12.1% during the fourth quarter. CWM LLC now owns 17,409 shares of the insurance provider’s stock valued at $633,000 after buying an additional 1,878 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in United Fire Group by 17.7% during the fourth quarter. State of Alaska Department of Revenue now owns 14,273 shares of the insurance provider’s stock worth $517,000 after acquiring an additional 2,142 shares during the period. Finally, Ellsworth Advisors LLC raised its position in United Fire Group by 2.5% in the fourth quarter. Ellsworth Advisors LLC now owns 25,583 shares of the insurance provider’s stock worth $915,000 after acquiring an additional 626 shares in the last quarter. 62.68% of the stock is owned by 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.