United Fire Group, Inc. (NASDAQ:UFCS) VP Barrie W. Ernst sold 7,114 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $47.43, for a total value of $337,417.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
United Fire Group, Inc. (NASDAQ:UFCS) opened at $47.97 on Wednesday. The stock has a market capitalization of $1,189.56, a price-to-earnings ratio of 24.23 and a beta of 0.55. United Fire Group, Inc. has a 52 week low of $38.95 and a 52 week high of $49.74.
United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.41. The business had revenue of $272.70 million during the quarter. United Fire Group had a return on equity of 2.42% and a net margin of 4.58%. During the same quarter in the previous year, the business posted $0.46 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.28 per share. The ex-dividend date is Tuesday, March 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.33%. United Fire Group’s payout ratio is currently 56.57%.
A number of brokerages recently issued reports on UFCS. ValuEngine upgraded United Fire Group from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Sidoti upgraded United Fire Group from a “neutral” rating to a “buy” rating in a research note on Thursday, February 15th. Finally, BidaskClub lowered United Fire Group from a “sell” rating to a “strong sell” rating in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $46.33.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System raised its stake in shares of United Fire Group by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 58,712 shares of the insurance provider’s stock valued at $2,690,000 after buying an additional 3,212 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of United Fire Group by 13.7% during the 3rd quarter. Macquarie Group Ltd. now owns 271,804 shares of the insurance provider’s stock valued at $12,454,000 after buying an additional 32,801 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of United Fire Group by 57.3% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 8,040 shares of the insurance provider’s stock valued at $368,000 after buying an additional 2,930 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of United Fire Group during the 3rd quarter valued at about $319,000. Finally, Russell Investments Group Ltd. raised its stake in shares of United Fire Group by 47.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 24,646 shares of the insurance provider’s stock valued at $1,130,000 after buying an additional 7,981 shares during the last quarter. Institutional investors and hedge funds own 61.94% of the company’s stock.
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About United Fire Group
United Fire Group, Inc, formerly United Fire & Casualty Company, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. The Company operates in two segments: property and casualty insurance, and life insurance. The Company’s property and casualty insurance segment consists of commercial lines insurance, including surety bonds, personal lines insurance and assumed insurance.
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