United Fire Group, Inc. (NASDAQ:UFCS) Insider Kelly A. Walsh Sells 4,700 Shares of Stock

United Fire Group, Inc. (NASDAQ:UFCS) insider Kelly A. Walsh sold 4,700 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $21.11, for a total transaction of $99,217.00. Following the completion of the transaction, the insider now owns 16,189 shares in the company, valued at approximately $341,749.79. This trade represents a 22.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

United Fire Group Stock Performance

NASDAQ UFCS traded down $0.98 during mid-day trading on Wednesday, reaching $25.50. 104,546 shares of the stock were exchanged, compared to its average volume of 154,542. United Fire Group, Inc. has a 1 year low of $18.04 and a 1 year high of $31.70. The business’s 50 day moving average is $28.68 and its 200-day moving average is $23.50. The company has a market capitalization of $646.17 million, a P/E ratio of 13.14 and a beta of 0.54.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share 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 prior year, the firm posted $0.31 EPS. Equities analysts predict that United Fire Group, Inc. will post 1.84 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders 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 annualized dividend and a dividend yield of 2.51%. United Fire Group’s dividend payout ratio (DPR) is 32.99%.

Institutional Trading of United Fire Group

A number of institutional investors and hedge funds have recently modified their holdings of UFCS. Commonwealth Equity Services LLC purchased a new stake in United Fire Group during the 2nd quarter worth approximately $223,000. American Century Companies Inc. increased its position in shares of United Fire Group by 6.6% during the second quarter. American Century Companies Inc. now owns 33,616 shares of the insurance provider’s stock worth $722,000 after purchasing an additional 2,085 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in United Fire Group by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 190,672 shares of the insurance provider’s stock valued at $4,098,000 after purchasing an additional 2,541 shares during the last quarter. XTX Topco Ltd purchased a new position in United Fire Group in the 2nd quarter valued at $213,000. Finally, Public Sector Pension Investment Board boosted its stake in United Fire Group by 6.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 46,727 shares of the insurance provider’s stock worth $1,004,000 after purchasing an additional 2,680 shares during the last quarter. Hedge funds and other institutional investors own 62.68% of the company’s stock.

Analyst Upgrades and Downgrades

UFCS has been the subject of several recent research reports. Piper Sandler raised shares of United Fire Group from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $19.00 to $26.00 in a report on Monday, November 18th. StockNews.com raised United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, October 4th.

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.