United Fire Group, Inc. (NASDAQ:UFCS) VP Corey Lynn Ruehle Sells 2,664 Shares

United Fire Group, Inc. (NASDAQ:UFCS - Get Free Report) VP Corey Lynn Ruehle sold 2,664 shares of United Fire Group stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the sale, the vice president now owns 12,523 shares in the company, valued at $370,680.80. This represents a 17.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

United Fire Group Trading Down 0.2 %

UFCS stock traded down $0.06 during midday trading on Thursday, hitting $29.49. 87,709 shares of the company's stock were exchanged, compared to its average volume of 110,496. The firm has a 50 day moving average price of $25.48 and a 200-day moving average price of $22.41. United Fire Group, Inc. has a 12-month low of $18.04 and a 12-month high of $31.70. The stock has a market capitalization of $747.34 million, a price-to-earnings ratio of 15.20 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its quarterly 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. 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 analyst estimates of $306.80 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, sell-side analysts forecast that United Fire Group, Inc. will post 1.84 EPS for the current fiscal year.

United Fire Group Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.17%. United Fire Group's payout ratio is 32.99%.

Hedge Funds Weigh In On United Fire Group

A number of hedge funds have recently bought and sold shares of UFCS. Innealta Capital LLC bought a new position in United Fire Group during the 2nd quarter worth approximately $65,000. Point72 Asset Management L.P. raised its position in shares of 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 valued at $113,000 after acquiring an additional 4,611 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in United Fire Group by 82.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider's stock worth $144,000 after purchasing an additional 3,098 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in United Fire Group during the third quarter worth $211,000. Finally, XTX Topco Ltd acquired a new position in United Fire Group in the second quarter worth $213,000. 62.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.