Insider Selling: United Fire Group, Inc. (NASDAQ:UFCS) Director Sells $54,750.00 in Stock

United Fire Group, Inc. (NASDAQ:UFCSGet Free Report) Director Christopher R. Drahozal sold 2,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $21.90, for a total value of $54,750.00. Following the sale, the director now directly owns 451,863 shares of the company’s stock, valued at $9,895,799.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

United Fire Group Stock Performance

Shares of NASDAQ:UFCS opened at $21.87 on Friday. United Fire Group, Inc. has a twelve month low of $18.41 and a twelve month high of $28.58. The business has a 50 day moving average price of $22.54 and a 200 day moving average price of $20.99.

United Fire Group (NASDAQ:UFCSGet Free Report) last released its quarterly earnings data on Tuesday, February 13th. The insurance provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The company had revenue of $287.32 million for the quarter, compared to the consensus estimate of $278.70 million. United Fire Group had a negative return on equity of 4.38% and a negative net margin of 2.71%. Research analysts forecast that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Thursday, March 7th. United Fire Group’s payout ratio is -54.24%.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on United Fire Group

Hedge Funds Weigh In On United Fire Group

Several institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its holdings in shares of United Fire Group by 72.0% in the 1st 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. Tower Research Capital LLC TRC lifted its holdings in shares of United Fire Group by 185.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,092 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 1,360 shares in the last quarter. UBS Group AG boosted its stake in United Fire Group by 34.5% in the 3rd quarter. UBS Group AG now owns 3,182 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 817 shares during the period. Quantbot Technologies LP acquired a new position in United Fire Group during the third quarter valued at approximately $67,000. Finally, PNC Financial Services Group Inc. lifted its stake in United Fire Group by 51.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,838 shares of the insurance provider’s stock valued at $119,000 after acquiring an additional 1,302 shares during the last quarter. 62.15% of the stock is owned by institutional investors.

United Fire Group Company Profile

(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.

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