United Fire Group (NASDAQ:UFCS) Sets New 12-Month High – Here’s What Happened

United Fire Group, Inc (NASDAQ:UFCS)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $37.91 and last traded at $37.7750, with a volume of 35425 shares. The stock had previously closed at $36.87.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jones Trading boosted their price target on United Fire Group from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Wall Street Zen raised United Fire Group from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Piper Sandler boosted their price objective on United Fire Group from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday. Zacks Research upgraded shares of United Fire Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of United Fire Group in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $37.50.

United Fire Group Stock Down 0.2%

The company has a debt-to-equity ratio of 0.16, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $942.21 million, a PE ratio of 8.71 and a beta of 0.47. The business has a 50-day moving average of $34.70 and a 200 day moving average of $31.28.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $1.50 EPS for the quarter, topping the consensus estimate of $0.69 by $0.81. The company had revenue of $354.02 million during 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.16 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. United Fire Group’s payout ratio is presently 15.09%.

Hedge Funds Weigh In On United Fire Group

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP raised its stake in United Fire Group by 859.3% in the 1st quarter. Quantbot Technologies LP now owns 8,797 shares of the insurance provider’s stock worth $259,000 after acquiring an additional 7,880 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of United Fire Group by 3.7% in the first quarter. Vanguard Group Inc. now owns 1,399,527 shares of the insurance provider’s stock valued at $41,230,000 after purchasing an additional 49,290 shares during the period. Inspire Investing LLC purchased a new position in shares of United Fire Group in the first quarter worth about $783,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of United Fire Group during the second quarter worth about $371,000. Finally, American Century Companies Inc. lifted its holdings in shares of United Fire Group by 76.5% during the first quarter. American Century Companies Inc. now owns 252,449 shares of the insurance provider’s stock worth $7,437,000 after purchasing an additional 109,453 shares during the period. 62.68% of the stock is currently 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.