United Fire Group, Inc. (NASDAQ:UFCS - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.24 and traded as high as $25.90. United Fire Group shares last traded at $25.34, with a volume of 172,484 shares traded.
Wall Street Analyst Weigh In
UFCS has been the subject of a number of research analyst reports. Piper Sandler raised shares of United Fire Group from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $19.00 to $26.00 in a research note on Monday, November 18th. StockNews.com upgraded United Fire Group from a "hold" rating to a "buy" rating in a research report on Friday, October 4th.
Read Our Latest Stock Analysis on UFCS
United Fire Group Price Performance
The company has a market cap of $656.36 million, a PE ratio of 13.35 and a beta of 0.54. The stock has a fifty day moving average price of $28.37 and a 200-day moving average price of $23.27.
United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.60. The business had revenue of $322.96 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $0.31 earnings per share. On average, equities analysts anticipate that United Fire Group, Inc. will post 1.84 earnings per share for the current year.
United Fire Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.47%. United Fire Group's dividend payout ratio is currently 32.99%.
Insiders Place Their Bets
In other news, VP Corey Lynn Ruehle sold 2,664 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $29.60, for a total value of $78,854.40. Following the completion of the sale, the vice president now directly owns 12,523 shares of the company's stock, valued at approximately $370,680.80. This represents a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.99% of the company's stock.
Hedge Funds Weigh In On United Fire Group
A number of hedge funds have recently made changes to their positions in UFCS. Point72 Asset Management L.P. grew its holdings in shares of United Fire Group by 576.4% in 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. boosted its position in 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 valued at $144,000 after buying an additional 3,098 shares in the last quarter. XTX Topco Ltd bought a new stake in United Fire Group during the second quarter worth about $213,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of United Fire Group during the third quarter worth approximately $211,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of United Fire Group in the second quarter valued at approximately $223,000. Institutional investors and hedge funds own 62.68% of the company's stock.
United Fire Group Company Profile
(
Get Free Report)
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.
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