United Fire Group, Inc. (NASDAQ:UFCS) Major Shareholder Sells $68,275.00 in Stock

United Fire Group, Inc. (NASDAQ:UFCS - Get Free Report) major shareholder Dee Ann Mcintyre sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $27.31, for a total transaction of $68,275.00. Following the completion of the transaction, the insider now directly owns 446,863 shares of the company's stock, valued at $12,203,828.53. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

United Fire Group Trading Down 2.8 %

UFCS traded down $0.78 during trading on Monday, hitting $27.18. The stock had a trading volume of 125,749 shares, compared to its average volume of 117,928. United Fire Group, Inc. has a 12 month low of $18.04 and a 12 month high of $31.70. The company has a 50 day simple moving average of $26.51 and a 200-day simple moving average of $24.76. The firm has a market cap of $689.86 million, a PE ratio of 11.42 and a beta of 0.45.

United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, beating the consensus estimate of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. As a group, sell-side analysts anticipate that United Fire Group, Inc. will post 2.42 earnings per share for the current fiscal year.

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United Fire Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, March 7th. United Fire Group's dividend payout ratio is presently 26.89%.

Hedge Funds Weigh In On United Fire Group

Large investors have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC bought a new position in United Fire Group during the third quarter worth $2,740,000. JPMorgan Chase & Co. grew its stake in United Fire Group by 78.6% in the 4th quarter. JPMorgan Chase & Co. now owns 177,877 shares of the insurance provider's stock worth $5,061,000 after buying an additional 78,254 shares in the last quarter. Foundry Partners LLC grew its position in United Fire Group by 71.9% during the third quarter. Foundry Partners LLC now owns 178,155 shares of the insurance provider's stock valued at $3,729,000 after acquiring an additional 74,540 shares during the last quarter. American Century Companies Inc. lifted its position in United Fire Group by 87.6% in the fourth quarter. American Century Companies Inc. now owns 142,996 shares of the insurance provider's stock valued at $4,068,000 after purchasing an additional 66,756 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in United Fire Group by 126.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,324 shares of the insurance provider's stock worth $2,497,000 after buying an additional 66,676 shares during the period. 62.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jones Trading upgraded shares of United Fire Group to a "strong-buy" rating and set a $32.00 price target on the stock in a research report on Wednesday, March 5th. Piper Sandler upped their price target on shares of United Fire Group from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, StockNews.com upgraded shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 12th.

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.