United Fire Group (NASDAQ:UFCS) Upgraded to Strong-Buy at Jones Trading

Jones Trading upgraded shares of United Fire Group (NASDAQ:UFCS - Free Report) to a strong-buy rating in a report published on Wednesday morning, Marketbeat Ratings reports. Jones Trading currently has $32.00 target price on the insurance provider's stock.

A number of other analysts have also commented on UFCS. Piper Sandler lifted their target price on United Fire Group from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. StockNews.com raised United Fire Group from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 12th.

United Fire Group Price Performance

United Fire Group stock traded up $0.32 during mid-day trading on Wednesday, reaching $27.50. The stock had a trading volume of 92,821 shares, compared to its average volume of 117,825. United Fire Group has a one year low of $18.04 and a one year high of $31.70. The company has a 50-day moving average price of $26.49 and a two-hundred day moving average price of $24.81. The company has a market capitalization of $697.98 million, a price-to-earnings ratio of 11.55 and a beta of 0.45.

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United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts anticipate that United Fire Group will post 2.42 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, March 7th. United Fire Group's dividend payout ratio (DPR) is presently 26.89%.

Insider Activity

In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $28.33, for a total transaction of $70,825.00. Following the completion of the sale, the director now directly owns 441,863 shares in the company, valued at $12,517,978.79. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Noyce acquired 2,000 shares of the stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $26.97 per share, for a total transaction of $53,940.00. Following the purchase, the director now directly owns 27,316 shares in the company, valued at approximately $736,712.52. This trade represents a 7.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 7,664 shares of company stock valued at $217,954 in the last ninety days. 5.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of UFCS. R Squared Ltd purchased a new stake in shares of United Fire Group in the 4th quarter worth $27,000. NewEdge Advisors LLC bought a new stake in United Fire Group during the fourth quarter valued at about $60,000. Aquatic Capital Management LLC increased its position in United Fire Group by 716.3% in the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock worth $70,000 after buying an additional 2,149 shares in the last quarter. Globeflex Capital L P bought a new position in shares of United Fire Group in the fourth quarter worth about $119,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of United Fire Group during the 4th quarter valued at about $131,000. Hedge funds and other institutional investors own 62.68% of the company's stock.

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.