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 the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $38.49, for a total transaction of $163,582.50. Following the sale, the director owned 429,113 shares of the company’s stock, valued at approximately $16,516,559.37. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

United Fire Group Trading Down 2.7%

Shares of UFCS traded down $1.05 during trading hours on Thursday, hitting $38.00. The company had a trading volume of 12,131 shares, compared to its average volume of 121,934. The firm has a market cap of $969.76 million, a P/E ratio of 8.48 and a beta of 0.44. The stock’s 50 day moving average price is $36.81 and its 200 day moving average price is $34.37. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.16. United Fire Group, Inc has a 52-week low of $25.01 and a 52-week high of $40.63.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Wednesday, February 11th. The insurance provider reported $1.50 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $365.81 million during the quarter, compared to analysts’ expectations of $332.34 million. On average, research analysts predict that United Fire Group, Inc will post 2.42 EPS for the current year.

United Fire Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost 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 payout ratio is currently 17.86%.

Institutional Investors Weigh In On United Fire Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its stake in shares of United Fire Group by 129.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 387 shares in the last quarter. Basepoint Wealth LLC purchased a new stake in United Fire Group in the fourth quarter worth about $26,000. Federated Hermes Inc. boosted its position in United Fire Group by 109.5% during the 4th quarter. Federated Hermes Inc. now owns 1,190 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 622 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of United Fire Group by 812.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,570 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 1,398 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of United Fire Group during the 4th quarter worth approximately $48,000. 62.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UFCS has been the subject of a number of recent analyst reports. JonesTrading upped their price target on shares of United Fire Group from $38.00 to $40.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler raised their price target on shares of United Fire Group from $37.00 to $41.00 and gave the stock a “neutral” rating in a report 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of United Fire Group in a report on Monday, December 29th. Finally, Wall Street Zen raised United Fire Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, United Fire Group presently has an average rating of “Moderate Buy” and an average 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.