United Fire Group (NASDAQ:UFCS) Shares Down 2.5%

United Fire Group, Inc. (NASDAQ:UFCS - Get Free Report) was down 2.5% during mid-day trading on Friday . The company traded as low as $20.09 and last traded at $20.09. Approximately 1,421 shares traded hands during trading, a decline of 99% from the average daily volume of 102,526 shares. The stock had previously closed at $20.61.

Wall Street Analyst Weigh In

Several brokerages have commented on UFCS. StockNews.com downgraded shares of United Fire Group from a "buy" rating to a "hold" rating in a research note on Monday, August 12th. Piper Sandler decreased their price target on shares of United Fire Group from $21.00 to $19.00 and set an "underweight" rating for the company in a report on Thursday, August 8th.

United Fire Group Price Performance

The stock has a 50-day moving average price of $20.77 and a 200 day moving average price of $21.84. The company has a market cap of $518.71 million, a price-to-earnings ratio of -29.67 and a beta of 0.38.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $301.17 million for the quarter, compared to analyst estimates of $300.80 million. United Fire Group had a return on equity of 5.23% and a net margin of 3.17%. During the same quarter last year, the business posted ($2.27) earnings per share. Sell-side analysts expect that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Friday, August 30th. United Fire Group's payout ratio is presently -92.75%.

Insiders Place Their Bets

In other news, Director Christopher R. Drahozal sold 2,500 shares of the business's stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $21.06, for a total value of $52,650.00. Following the sale, the director now directly owns 449,363 shares in the company, valued at $9,463,584.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 2,500 shares of company stock worth $50,310. Corporate insiders own 5.99% of the company's stock.

Hedge Funds Weigh In On United Fire Group

Hedge funds have recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in United Fire Group during the second quarter worth $65,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of United Fire Group by 22.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider's stock valued at $104,000 after acquiring an additional 957 shares during the last quarter. Quest Partners LLC bought a new stake in United Fire Group during the fourth quarter worth about $113,000. New York State Common Retirement Fund boosted its position in United Fire Group by 17.8% during the fourth quarter. New York State Common Retirement Fund now owns 7,976 shares of the insurance provider's stock valued at $160,000 after purchasing an additional 1,203 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of United Fire Group during the 1st quarter worth approximately $202,000. 62.68% of the stock is owned by institutional investors.

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.