Christopher Drahozal Sells 4,250 Shares of United Fire Group (NASDAQ:UFCS) Stock

United Fire Group, Inc (NASDAQ:UFCS) Director Christopher Drahozal sold 4,250 shares of the business’s 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 completion of the transaction, the director owned 437,613 shares in the company, valued at approximately $16,996,888.92. The trade was a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

United Fire Group Trading Down 3.3%

Shares of UFCS stock opened at $37.77 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.16. The firm has a market cap of $963.89 million, a P/E ratio of 8.43 and a beta of 0.44. The company has a 50 day moving average of $36.83 and a 200-day moving average of $34.39. United Fire Group, Inc has a 12-month low of $25.01 and a 12-month high of $40.63.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.50 EPS for the quarter, beating the consensus estimate of $0.90 by $0.60. United Fire Group had a return on equity of 13.84% and a net margin of 8.52%.The business had revenue of $365.81 million for the quarter, compared to the consensus estimate of $332.34 million. Sell-side analysts anticipate that United Fire Group, Inc will post 2.42 earnings per share for the current year.

United Fire Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be issued a $0.20 dividend. This is an increase from United Fire Group’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $0.80 annualized dividend and a yield of 2.1%. United Fire Group’s payout ratio is 17.86%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On United Fire Group

Large investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new stake in United Fire Group in the 4th quarter worth approximately $371,000. State of Tennessee Department of Treasury grew its position in shares of United Fire Group by 4.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 15,983 shares of the insurance provider’s stock valued at $574,000 after purchasing an additional 727 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of United Fire Group in the fourth quarter worth $228,000. XTX Topco Ltd bought a new position in shares of United Fire Group in the fourth quarter worth $218,000. Finally, Zacks Investment Management boosted its stake in United Fire Group by 36.0% during the fourth quarter. Zacks Investment Management now owns 87,973 shares of the insurance provider’s stock valued at $3,198,000 after buying an additional 23,273 shares during the period. 62.68% of the stock is currently owned by institutional investors.

United Fire Group Company Profile

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.