Key Points
- Major shareholder Dee Ann Mcintyre sold 4,250 shares on March 3 at an average of $37.94 (and 4,250 on March 2 at $38.84), reducing her stake by about 0.97% and realizing roughly $161,245 from the March 3 sale.
- Strong quarterly results and dividend hike: United Fire Group reported EPS of $1.50 vs. $0.90 expected and revenue of $365.8M vs. $332.3M, and raised its quarterly dividend to $0.20 (annualized $0.80, ~2.1% yield).
- Stock and analyst snapshot: Shares fell about 2.7% to $38 amid light trading, while analysts maintain a generally positive stance with a consensus "Moderate Buy" and an average target of $40.50.
United Fire Group, Inc (NASDAQ:UFCS - Get Free Report) major shareholder Dee Ann Mcintyre sold 4,250 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $37.94, for a total value of $161,245.00. Following the completion of the sale, the insider owned 433,363 shares in the company, valued at approximately $16,441,792.22. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Dee Ann Mcintyre also recently made the following trade(s):
- On Monday, March 2nd, Dee Ann Mcintyre sold 4,250 shares of United Fire Group stock. The stock was sold at an average price of $38.84, for a total value of $165,070.00.
United Fire Group Stock Down 2.7%
Shares of NASDAQ UFCS traded down $1.05 during midday trading on Thursday, hitting $38.00. 12,131 shares of the company's stock were exchanged, compared to its average volume of 121,934. The firm's fifty day simple moving average is $36.81 and its 200-day simple moving average is $34.37. The company has a market cap of $969.76 million, a PE ratio of 8.48 and a beta of 0.44. United Fire Group, Inc has a twelve month low of $25.01 and a twelve month high of $40.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.33 and a quick ratio of 0.33.
United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.60. United Fire Group had a return on equity of 13.84% and a net margin of 8.52%.The firm had revenue of $365.81 million during the quarter, compared to the consensus estimate of $332.34 million. Research analysts predict that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.
United Fire Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, February 24th. This represents a $0.80 annualized dividend and a yield of 2.1%. This is an increase from United Fire Group's previous quarterly dividend of $0.16. United Fire Group's dividend payout ratio (DPR) is 17.86%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on UFCS shares. JonesTrading lifted their target price on United Fire Group from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday. Wall Street Zen upgraded United Fire Group from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Weiss Ratings restated a "buy (b-)" rating on shares of United Fire Group in a research report on Monday, December 29th. Zacks Research cut shares of United Fire Group from a "strong-buy" rating to a "hold" rating in a report on Monday, January 5th. Finally, Piper Sandler increased their price target on shares of United Fire Group from $37.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.50.
Get Our Latest Stock Report on UFCS
Institutional Investors Weigh In On United Fire Group
Several large investors have recently modified their holdings of UFCS. Vanguard Group Inc. grew its position in United Fire Group by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,511,541 shares of the insurance provider's stock valued at $54,945,000 after buying an additional 35,338 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of United Fire Group by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,477,639 shares of the insurance provider's stock worth $53,712,000 after acquiring an additional 10,887 shares during the period. State Street Corp boosted its holdings in shares of United Fire Group by 0.4% in the fourth quarter. State Street Corp now owns 809,086 shares of the insurance provider's stock valued at $29,410,000 after acquiring an additional 3,289 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of United Fire Group by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 615,052 shares of the insurance provider's stock worth $22,361,000 after acquiring an additional 29,679 shares during the period. Finally, Systematic Financial Management LP raised its holdings in United Fire Group by 3.5% during the second quarter. Systematic Financial Management LP now owns 603,747 shares of the insurance provider's stock worth $17,328,000 after purchasing an additional 20,413 shares in the last quarter. Hedge funds and other institutional investors own 62.68% of the company's stock.
United Fire Group Company Profile
(
Get Free Report)
United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers' compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.
United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.
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