Insider Buying: United Fire Group, Inc. (NASDAQ:UFCS) CFO Acquires 500 Shares of Stock

United Fire Group, Inc. (NASDAQ:UFCSGet Free Report) CFO Eric J. Martin purchased 500 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was purchased at an average cost of $21.22 per share, for a total transaction of $10,610.00. Following the transaction, the chief financial officer now owns 26,310 shares of the company’s stock, valued at $558,298.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

United Fire Group Stock Performance

Shares of UFCS traded up $0.29 during trading hours on Monday, reaching $21.64. 57,027 shares of the company traded hands, compared to its average volume of 86,879. The stock’s fifty day moving average is $22.40 and its 200 day moving average is $21.98. United Fire Group, Inc. has a 1-year low of $18.41 and a 1-year high of $25.55. The stock has a market cap of $547.41 million, a P/E ratio of -31.36 and a beta of 0.40.

United Fire Group (NASDAQ:UFCSGet Free Report) 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. The company had revenue of $296.00 million for the quarter, compared to analyst estimates of $282.30 million. United Fire Group had a negative return on equity of 2.63% and a negative net margin of 1.50%. On average, equities research analysts predict that United Fire Group, Inc. will post 1.1 EPS for the current year.

United Fire Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, May 31st. United Fire Group’s payout ratio is -92.75%.

Institutional Investors Weigh In On United Fire Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in United Fire Group in the third quarter worth $67,000. Tower Research Capital LLC TRC raised its holdings in shares of United Fire Group by 127.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,761 shares of the insurance provider’s stock valued at $96,000 after buying an additional 2,669 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of United Fire Group by 22.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider’s stock valued at $104,000 after buying an additional 957 shares during the last quarter. Quest Partners LLC bought a new position in shares of United Fire Group in the fourth quarter valued at about $113,000. Finally, New York State Common Retirement Fund raised its holdings in shares of United Fire Group by 17.8% in the fourth quarter. New York State Common Retirement Fund now owns 7,976 shares of the insurance provider’s stock valued at $160,000 after buying an additional 1,203 shares during the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UFCS shares. Piper Sandler reiterated an “underweight” rating and issued a $21.00 target price on shares of United Fire Group in a report on Monday, April 1st. StockNews.com upgraded United Fire Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 16th.

Get Our Latest Analysis on UFCS

About United Fire Group

(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.

Further Reading

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