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 United Fire Group stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $38.84, for a total transaction of $165,070.00. Following the completion of the transaction, the director owned 437,613 shares of the company’s stock, valued at $16,996,888.92. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

United Fire Group Stock Performance

Shares of NASDAQ:UFCS traded down $1.05 during trading on Thursday, hitting $38.00. 12,131 shares of the company were exchanged, compared to its average volume of 121,934. United Fire Group, Inc has a 52-week low of $25.01 and a 52-week high of $40.63. The stock has a 50 day moving average of $36.81 and a 200 day moving average of $34.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market cap of $969.76 million, a PE ratio of 8.48 and a beta of 0.44.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.60. The company had revenue of $365.81 million for the quarter, compared to analyst estimates of $332.34 million. United Fire Group had a return on equity of 13.84% and a net margin of 8.52%. As a group, equities 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 announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, February 24th. This is a boost from United Fire Group’s previous quarterly dividend of $0.16. United Fire Group’s payout ratio is presently 17.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in United Fire Group by 19.8% during the fourth quarter. GAMMA Investing LLC now owns 1,743 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 288 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of United Fire Group by 23.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,726 shares of the insurance provider’s stock valued at $63,000 after buying an additional 329 shares in the last quarter. NewEdge Advisors LLC lifted its position in United Fire Group by 17.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock worth $74,000 after buying an additional 375 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in United Fire Group by 129.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock worth $25,000 after buying an additional 387 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in United Fire Group by 5.2% in the second quarter. The Manufacturers Life Insurance Company now owns 7,883 shares of the insurance provider’s stock worth $226,000 after buying an additional 391 shares in the last quarter. Institutional investors own 62.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UFCS. Piper Sandler raised their price objective on shares of United Fire Group from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Wall Street Zen raised shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of United Fire Group in a report on Monday, December 29th. Zacks Research downgraded United Fire Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, JonesTrading boosted their target price on United Fire Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.