United Fire Group (NASDAQ:UFCS) Major Shareholder Sells $165,070.00 in Stock

United Fire Group, Inc (NASDAQ:UFCS) major shareholder Dee Ann Mcintyre sold 4,250 shares of United Fire Group stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $38.84, for a total value of $165,070.00. Following the completion of the transaction, the insider directly owned 437,613 shares of the company’s stock, valued at approximately $16,996,888.92. This represents a 0.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

United Fire Group Stock Performance

Shares of United Fire Group stock opened at $37.79 on Friday. United Fire Group, Inc has a 1 year low of $25.01 and a 1 year high of $40.63. The firm’s 50-day moving average is $36.85 and its 200 day moving average is $34.44. The stock has a market cap of $964.40 million, a price-to-earnings ratio of 8.44 and a beta of 0.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.33 and a quick ratio of 0.33.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.60. The business had revenue of $365.81 million during the quarter, compared to analyst estimates of $332.34 million. United Fire Group had a net margin of 8.52% and a return on equity of 13.84%. Sell-side analysts anticipate that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, February 24th. This is a positive change from United Fire Group’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. United Fire Group’s dividend payout ratio is currently 17.86%.

Institutional Investors Weigh In On United Fire Group

A number of hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH bought a new stake in shares of United Fire Group during the 3rd quarter valued at $5,940,000. Invesco Ltd. raised its holdings in United Fire Group by 108.8% in the 2nd quarter. Invesco Ltd. now owns 347,008 shares of the insurance provider’s stock worth $9,959,000 after purchasing an additional 180,836 shares during the period. Royce & Associates LP raised its holdings in United Fire Group by 236.4% in the 4th quarter. Royce & Associates LP now owns 235,925 shares of the insurance provider’s stock worth $8,576,000 after purchasing an additional 165,789 shares during the period. CSM Advisors LLC purchased a new position in United Fire Group during the second quarter valued at $4,154,000. Finally, AQR Capital Management LLC lifted its position in United Fire Group by 59.5% during the second quarter. AQR Capital Management LLC now owns 301,076 shares of the insurance provider’s stock valued at $8,641,000 after purchasing an additional 112,318 shares in the last quarter. Institutional investors own 62.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on UFCS. Piper Sandler boosted their price objective 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 United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of United Fire Group in a 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. Finally, JonesTrading upped their price target on United Fire Group from $38.00 to $40.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.50.

About United Fire Group

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.