By otakuyassine3@gmail.com 
United Fire Group, Inc. (NASDAQ:UFCS – Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.24 and traded as high as $25.90. United Fire Group shares last traded at $25.34, with a volume of 172,484 shares changing hands.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on UFCS shares. Piper Sandler upgraded United Fire Group from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $19.00 to $26.00 in a research note on Monday, November 18th. StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, October 4th.
Get Our Latest Research Report on UFCS
United Fire Group Price Performance
The stock’s fifty day simple moving average is $28.52 and its 200-day simple moving average is $23.33. The firm has a market cap of $671.56 million, a PE ratio of 13.66 and a beta of 0.54.
United Fire Group (NASDAQ:UFCS – Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.60. The company had revenue of $322.96 million during the quarter, compared to analysts’ expectations of $306.80 million. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. During the same quarter in the previous year, the firm posted $0.31 EPS. Analysts expect that United Fire Group, Inc. will post 1.84 earnings per share for the current year.
United Fire Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 2.42%. United Fire Group’s dividend payout ratio is currently 32.99%.
Insider Buying and Selling
In related news, VP Corey Lynn Ruehle sold 2,664 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the completion of the transaction, the vice president now directly owns 12,523 shares in the company, valued at $370,680.80. The trade was a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.99% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On United Fire Group
Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its holdings in 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 worth $113,000 after acquiring an additional 4,611 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in United Fire Group by 82.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 3,098 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in United Fire Group in the 3rd quarter worth approximately $211,000. XTX Topco Ltd acquired a new stake in shares of United Fire Group during the 2nd quarter worth approximately $213,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of United Fire Group during the 2nd quarter valued at approximately $223,000. 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.
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