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

United Fire Group, Inc. (NASDAQ:UFCS) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 364,500 shares, an increase of 44.2% from the May 31st total of 252,700 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 105,100 shares, the days-to-cover ratio is currently 3.5 days.

Analyst Ratings Changes

UFCS has been the topic of several analyst reports. Piper Sandler reissued an “underweight” rating and set a $21.00 target price on shares of United Fire Group in a report on Monday, April 1st. StockNews.com lowered United Fire Group from a “strong-buy” rating to a “buy” rating in a report on Thursday.

United Fire Group Price Performance

Shares of UFCS stock traded up $0.48 on Friday, hitting $21.49. 478,927 shares of the company’s stock were exchanged, compared to its average volume of 158,247. United Fire Group has a 12 month low of $18.41 and a 12 month high of $25.55. The stock has a market cap of $543.61 million, a P/E ratio of -31.14 and a beta of 0.40. The company has a 50 day moving average of $22.22 and a 200 day moving average of $21.98.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Tuesday, May 7th. The insurance provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. United Fire Group had a negative return on equity of 2.63% and a negative net margin of 1.50%. The business had revenue of $296.00 million during the quarter, compared to the consensus estimate of $282.30 million. Sell-side analysts predict that United Fire Group will post 1.1 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.16 per share. The ex-dividend date was Friday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 2.98%. United Fire Group’s dividend payout ratio is currently -92.75%.

Insider Buying and Selling at United Fire Group

In other news, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $21.06, for a total transaction of $52,650.00. Following the sale, the director now directly owns 449,363 shares of the company’s stock, valued at approximately $9,463,584.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.99% of the company’s stock.

Institutional Trading of United Fire Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its position in United Fire Group by 111.4% in the third quarter. Envestnet Asset Management Inc. now owns 178,041 shares of the insurance provider’s stock valued at $3,516,000 after purchasing an additional 93,810 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in United Fire Group by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,590 shares of the insurance provider’s stock valued at $7,315,000 after buying an additional 27,213 shares during the last quarter. Trexquant Investment LP bought a new position in United Fire Group in the 3rd quarter valued at approximately $422,000. GSA Capital Partners LLP boosted its position in United Fire Group by 106.8% during the 3rd quarter. GSA Capital Partners LLP now owns 35,048 shares of the insurance provider’s stock worth $692,000 after buying an additional 18,097 shares during the period. Finally, Invesco Ltd. grew its holdings in United Fire Group by 4.5% during the 3rd quarter. Invesco Ltd. now owns 373,607 shares of the insurance provider’s stock worth $7,379,000 after acquiring an additional 16,134 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.