Insider Buying: United Fire Group, Inc. (NASDAQ:UFCS) VP Purchases $32,640.00 in Stock

United Fire Group, Inc. (NASDAQ:UFCSGet Free Report) VP Micah G. Woolstenhulme bought 1,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average price of $21.76 per share, for a total transaction of $32,640.00. Following the acquisition, the vice president now directly owns 32,763 shares of the company’s stock, valued at approximately $712,922.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

United Fire Group Stock Up 1.7 %

United Fire Group stock opened at $22.09 on Friday. The business’s 50-day simple moving average is $22.46 and its 200 day simple moving average is $20.95. The stock has a market cap of $558.44 million, a price-to-earnings ratio of -18.72 and a beta of 0.36. United Fire Group, Inc. has a 12-month low of $18.41 and a 12-month high of $28.58.

United Fire Group (NASDAQ:UFCSGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.12. The business had revenue of $287.32 million for the quarter, compared to analysts’ expectations of $278.70 million. United Fire Group had a negative return on equity of 4.38% and a negative net margin of 2.71%. As a group, sell-side analysts expect that United Fire Group, Inc. will post 1.1 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.90%. The ex-dividend date is Thursday, March 7th. United Fire Group’s dividend payout ratio is -54.24%.

Hedge Funds Weigh In On United Fire Group

Several hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC lifted its stake in United Fire Group by 0.7% in the fourth quarter. Nuveen Asset Management LLC now owns 58,640 shares of the insurance provider’s stock valued at $1,180,000 after buying an additional 422 shares during the period. Stifel Financial Corp lifted its stake in United Fire Group by 4.5% in the first quarter. Stifel Financial Corp now owns 10,426 shares of the insurance provider’s stock valued at $277,000 after buying an additional 453 shares during the period. Advisor Group Holdings Inc. lifted its stake in United Fire Group by 9.2% in the first quarter. Advisor Group Holdings Inc. now owns 7,240 shares of the insurance provider’s stock valued at $225,000 after buying an additional 608 shares during the period. Captrust Financial Advisors lifted its stake in United Fire Group by 72.0% in the first quarter. Captrust Financial Advisors now owns 1,488 shares of the insurance provider’s stock valued at $46,000 after buying an additional 623 shares during the period. Finally, UBS Group AG lifted its stake in United Fire Group by 34.5% in the third quarter. UBS Group AG now owns 3,182 shares of the insurance provider’s stock valued at $91,000 after buying an additional 817 shares during the period. Institutional investors own 62.15% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 14th.

Check Out Our Latest Stock Analysis on United Fire Group

About United Fire Group

(Get Free Report)

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.

Further Reading

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