Insider Buying: United Fire Group (NASDAQ:UFCS) Director Acquires $237,050.00 in Stock

United Fire Group, Inc (NASDAQ:UFCS) Director George Milligan bought 5,000 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was purchased at an average price of $47.41 per share, with a total value of $237,050.00. Following the transaction, the director owned 95,034 shares in the company, valued at approximately $4,505,561.94. This represents a 5.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

United Fire Group Price Performance

Shares of NASDAQ UFCS opened at $51.17 on Thursday. United Fire Group, Inc has a twelve month low of $33.53 and a twelve month high of $58.19. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 9.72 and a beta of 0.55. The business has a 50 day simple moving average of $54.61 and a 200-day simple moving average of $47.20.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, November 3rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.11. United Fire Group had a return on equity of 14.57% and a net margin of 9.06%. The business had revenue of $391.63 million for the quarter, compared to analyst estimates of $384.18 million. As a group, equities research analysts expect that United Fire Group, Inc will post 5.07 earnings per share for the current year.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, September 4th. This represents a $0.80 annualized dividend and a yield of 1.6%. United Fire Group’s payout ratio is presently 15.30%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings cut shares of United Fire Group from a “buy (a)” rating to a “buy (a-)” rating in a report on Wednesday, November 4th. Wall Street Zen downgraded shares of United Fire Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Piper Sandler decreased their price target on shares of United Fire Group from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. Finally, Zacks Research lowered shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Friday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $51.50.

Hedge Funds Weigh In On United Fire Group

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of United Fire Group in the 2nd quarter worth approximately $183,136,000. Dimensional Fund Advisors LP boosted its position in United Fire Group by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,489,968 shares of the insurance provider’s stock valued at $55,219,000 after purchasing an additional 12,329 shares during the period. Bank of America Corp DE acquired a new position in United Fire Group during the 2nd quarter valued at approximately $24,936,000. Hillsdale Investment Management Inc. grew its stake in United Fire Group by 5.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 211,768 shares of the insurance provider’s stock worth $7,848,000 after buying an additional 10,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in United Fire Group during the 2nd quarter worth $9,720,000. 62.68% of the stock is owned by institutional investors.

About United Fire Group

United Fire Group, Inc. is an insurance holding company headquartered in Cedar Rapids, Iowa. Founded in 1946 as United Fire & Casualty Company, it has grown into a group of insurance companies serving customers across the United States, primarily through independent agents. The company focuses on property and casualty insurance, with products for businesses that include commercial property and liability coverage, workers’ compensation, specialty insurance and surety bonds. Its offerings are designed to address risks across a range of industries and business needs.