Kelly A. Walsh Sells 4,700 Shares of United Fire Group, Inc. (NASDAQ:UFCS) Stock

United Fire Group, Inc. (NASDAQ:UFCS) insider Kelly A. Walsh sold 4,700 shares of United Fire Group stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $21.11, for a total value of $99,217.00. Following the transaction, the insider now owns 16,189 shares in the company, valued at $341,749.79. This trade represents a 22.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

United Fire Group Stock Performance

Shares of United Fire Group stock opened at $25.63 on Friday. The business’s 50 day simple moving average is $28.68 and its 200 day simple moving average is $23.52. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70. The firm has a market cap of $649.52 million, a PE ratio of 13.21 and a beta of 0.54.

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

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, November 29th. United Fire Group’s dividend payout ratio (DPR) is 32.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UFCS. StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Piper Sandler raised United Fire Group from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $19.00 to $26.00 in a research report on Monday, November 18th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UFCS. R Squared Ltd acquired a new position in shares of United Fire Group during the 4th quarter worth approximately $27,000. Point72 Asset Management L.P. increased 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 purchasing an additional 4,611 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of United Fire Group by 82.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 3,098 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of United Fire Group during the 3rd quarter worth approximately $211,000. Finally, XTX Topco Ltd acquired a new position in shares of United Fire Group during the 2nd quarter worth approximately $213,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

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.