United Fire Group, Inc. (NASDAQ:UFCS) VP Sells $78,854.40 in Stock

United Fire Group, Inc. (NASDAQ:UFCS) VP Corey Lynn Ruehle sold 2,664 shares of United Fire Group stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $29.60, for a total value of $78,854.40. Following the completion of the transaction, the vice president now owns 12,523 shares of the company’s stock, valued at approximately $370,680.80. The trade was a 17.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

United Fire Group Trading Down 0.2 %

UFCS traded down $0.06 during trading on Thursday, reaching $29.49. 87,709 shares of the company were exchanged, compared to its average volume of 110,388. United Fire Group, Inc. has a 52 week low of $18.04 and a 52 week high of $31.70. The firm has a 50 day moving average of $25.48 and a 200 day moving average of $22.41. The stock has a market cap of $747.34 million, a P/E ratio of 15.20 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.60. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. The business had revenue of $322.96 million for the quarter, compared to analysts’ expectations of $306.80 million. During the same quarter last year, the company earned $0.31 EPS. As a group, analysts forecast that United Fire Group, Inc. will post 1.84 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, November 29th. United Fire Group’s payout ratio is currently 32.99%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in UFCS. Innealta Capital LLC bought a new stake in shares of United Fire Group during the second quarter valued at about $65,000. Point72 Asset Management L.P. raised its position in shares of United Fire Group by 576.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock worth $113,000 after buying an additional 4,611 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of United Fire Group by 82.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock worth $144,000 after acquiring an additional 3,098 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of United Fire Group in the 3rd quarter worth approximately $211,000. Finally, XTX Topco Ltd bought a new position in shares of United Fire Group in the second quarter valued at approximately $213,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler upgraded shares of United Fire Group from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $19.00 to $26.00 in a research note on Monday, November 18th. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, October 4th.

United Fire Group Company Profile

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.