United Fire Group, Inc. (NASDAQ:UFCS) SVP Buys $48,000.00 in Stock

United Fire Group, Inc. (NASDAQ:UFCS - Get Free Report) SVP Micah G. Woolstenhulme bought 2,500 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $19.20 per share, with a total value of $48,000.00. Following the transaction, the senior vice president now owns 39,940 shares in the company, valued at approximately $766,848. This represents a 6.68 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

United Fire Group Trading Down 0.9 %

NASDAQ:UFCS traded down $0.24 during trading hours on Friday, hitting $26.66. The stock had a trading volume of 104,472 shares, compared to its average volume of 162,534. The company has a market cap of $675.56 million, a PE ratio of 13.74 and a beta of 0.54. The business has a 50 day simple moving average of $28.63 and a two-hundred day simple moving average of $23.39. United Fire Group, Inc. has a 1-year low of $18.04 and a 1-year high of $31.70.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $306.80 million. During the same period in the prior year, the firm earned $0.31 earnings per share. Research analysts expect that United Fire Group, Inc. will post 1.84 EPS 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. Stockholders of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, November 29th. United Fire Group's payout ratio is 32.99%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UFCS. Piper Sandler upgraded shares of 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 report on Monday, November 18th. StockNews.com upgraded United Fire Group from a "hold" rating to a "buy" rating in a research note on Friday, October 4th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. increased its holdings in 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 stake in shares of United Fire Group by 82.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider's stock worth $144,000 after buying an additional 3,098 shares during the last quarter. XTX Topco Ltd acquired a new stake in United Fire Group in the second quarter valued at $213,000. Y Intercept Hong Kong Ltd bought a new position in United Fire Group during the 3rd quarter valued at $211,000. Finally, Commonwealth Equity Services LLC bought a new position in United Fire Group during the 2nd quarter valued at $223,000. Institutional investors and hedge funds own 62.68% of the company's stock.

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.