Dee Ann Mcintyre Sells 4,250 Shares of United Fire Group (NASDAQ:UFCS) Stock

United Fire Group, Inc (NASDAQ:UFCS) major shareholder Dee Ann Mcintyre sold 4,250 shares of United Fire Group stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $38.84, for a total transaction of $165,070.00. Following the transaction, the insider directly owned 437,613 shares of the company’s stock, valued at approximately $16,996,888.92. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

United Fire Group Stock Up 1.5%

Shares of UFCS traded up $0.57 during trading hours on Wednesday, hitting $39.05. The company had a trading volume of 125,826 shares, compared to its average volume of 124,663. The stock has a market capitalization of $996.63 million, a price-to-earnings ratio of 8.72 and a beta of 0.44. The firm has a fifty day moving average price of $36.77 and a 200-day moving average price of $34.34. United Fire Group, Inc has a 52-week low of $25.01 and a 52-week high of $40.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.33 and a current ratio of 0.33.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.60. The firm had revenue of $365.81 million for the quarter, compared to analysts’ expectations of $332.34 million. United Fire Group had a net margin of 8.52% and a return on equity of 13.84%. On average, equities research analysts forecast that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, February 24th. This is an increase from United Fire Group’s previous quarterly dividend of $0.16. United Fire Group’s payout ratio is currently 17.86%.

Wall Street Analysts Forecast Growth

UFCS has been the subject of several recent research reports. Zacks Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Piper Sandler raised their price objective on shares of United Fire Group from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of United Fire Group in a research report on Monday, December 29th. JonesTrading boosted their target price on shares of United Fire Group from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wall Street Zen upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Institutional Trading of United Fire Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in United Fire Group by 129.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock worth $25,000 after buying an additional 387 shares during the last quarter. Basepoint Wealth LLC purchased a new stake in United Fire Group in the fourth quarter valued at approximately $26,000. Federated Hermes Inc. boosted its holdings in United Fire Group by 109.5% during the 4th quarter. Federated Hermes Inc. now owns 1,190 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 622 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in United Fire Group during the 4th quarter worth approximately $48,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of United Fire Group in the 4th quarter valued at about $53,000. Institutional investors own 62.68% of the company’s stock.

About United Fire Group

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.