United Fire Group, Inc. (NASDAQ:UFCS) Short Interest Update

United Fire Group, Inc. (NASDAQ:UFCS - Get Free Report) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 344,900 shares, an increase of 26.8% from the November 30th total of 272,100 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily trading volume, of 124,900 shares, the days-to-cover ratio is presently 2.8 days.

Analysts Set New Price Targets

A number of research firms recently weighed in on UFCS. Piper Sandler raised shares of United Fire Group from an "underweight" rating to a "neutral" rating and upped their target price for the company from $19.00 to $26.00 in a research note on Monday, November 18th. StockNews.com raised United Fire Group from a "hold" rating to a "buy" rating in a report on Friday, October 4th.

United Fire Group Stock Down 1.9 %

United Fire Group stock traded down $0.56 during mid-day trading on Friday, hitting $28.48. 80,260 shares of the company were exchanged, compared to its average volume of 111,683. The company has a market capitalization of $721.74 million, a PE ratio of 14.68 and a beta of 0.53. The business has a fifty day moving average of $26.72 and a 200 day moving average of $22.77. United Fire Group 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.60. The business had revenue of $322.96 million during the quarter, compared to analysts' expectations of $306.80 million. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. During the same quarter last year, the company posted $0.31 EPS. Research analysts expect that United Fire Group will post 1.84 earnings per share for the current 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 issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, November 29th. United Fire Group's payout ratio is currently 32.99%.

Insider Buying and Selling

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the business's stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total value of $78,854.40. Following the sale, the vice president now owns 12,523 shares of the company's stock, valued at $370,680.80. The trade was a 17.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On United Fire Group

A number of large investors have recently bought and sold shares of UFCS. Martingale Asset Management L P grew its holdings in United Fire Group by 2.2% during the 3rd quarter. Martingale Asset Management L P now owns 44,090 shares of the insurance provider's stock worth $923,000 after acquiring an additional 947 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of United Fire Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 193,283 shares of the insurance provider's stock worth $4,154,000 after purchasing an additional 1,023 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of United Fire Group by 10.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 17,108 shares of the insurance provider's stock valued at $368,000 after purchasing an additional 1,625 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of United Fire Group by 6.6% in the second quarter. American Century Companies Inc. now owns 33,616 shares of the insurance provider's stock valued at $722,000 after purchasing an additional 2,085 shares in the last quarter. Finally, Centiva Capital LP raised its position in United Fire Group by 21.5% in the 3rd quarter. Centiva Capital LP now owns 12,860 shares of the insurance provider's stock worth $269,000 after purchasing an additional 2,278 shares during the last quarter. 62.68% of the stock is currently owned by institutional investors.

About United Fire Group

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.