Insider Selling: United Fire Group, Inc. (NASDAQ:UFCS) Director Sells 2,500 Shares of Stock

United Fire Group, Inc. (NASDAQ:UFCS) Director Christopher R. Drahozal sold 2,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 441,863 shares of the company’s stock, valued at approximately $12,517,978.79. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

United Fire Group Trading Up 0.2 %

NASDAQ UFCS opened at $28.59 on Friday. The company has a fifty day simple moving average of $26.53 and a two-hundred day simple moving average of $24.61. 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 cap of $725.64 million, a P/E ratio of 12.01 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. As a group, sell-side analysts forecast that United Fire Group, Inc. will post 2.42 earnings per share for the current year.

United Fire Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 2.24%. United Fire Group’s dividend payout ratio (DPR) is 26.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jones Trading raised shares of United Fire Group to a “strong-buy” rating in a research report on Wednesday. StockNews.com upgraded shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler increased their price objective on shares of United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th.

Hedge Funds Weigh In On United Fire Group

A number of large investors have recently bought and sold shares of UFCS. R Squared Ltd acquired a new stake in United Fire Group in the 4th quarter valued at about $27,000. NewEdge Advisors LLC purchased a new position in United Fire Group in the fourth quarter valued at approximately $60,000. Aquatic Capital Management LLC raised its stake in shares of United Fire Group by 716.3% during the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider’s stock valued at $70,000 after purchasing an additional 2,149 shares during the period. Point72 Asset Management L.P. raised its stake in shares of United Fire Group by 576.4% during the third quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 4,611 shares during the period. Finally, Globeflex Capital L P acquired a new stake in United Fire Group in the fourth quarter valued at $119,000. 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.