Corey Lynn Ruehle Sells 2,664 Shares of United Fire Group, Inc. (NASDAQ:UFCS) Stock

United Fire Group, Inc. (NASDAQ:UFCS) VP Corey Lynn Ruehle sold 2,664 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the completion of the sale, the vice president now owns 12,523 shares of the company’s stock, valued at $370,680.80. This trade represents a 17.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

United Fire Group Stock Down 1.8 %

NASDAQ:UFCS opened at $28.95 on Friday. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70. The stock has a fifty day simple moving average of $25.87 and a 200-day simple moving average of $22.50. The company has a market capitalization of $733.65 million, a PE ratio of 14.92 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share (EPS) 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 net margin of 4.15% and a return on equity of 6.75%. During the same quarter in the previous year, the business posted $0.31 earnings per share. As a group, equities analysts anticipate that United Fire Group, Inc. will post 1.84 earnings per share for the current year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Friday, November 29th. United Fire Group’s payout ratio is currently 32.99%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. StockNews.com raised shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Piper Sandler raised United Fire Group from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $19.00 to $26.00 in a research note on Monday, November 18th.

Hedge Funds Weigh In On United Fire Group

Several hedge funds have recently bought and sold shares of UFCS. Innealta Capital LLC acquired a new stake in shares of United Fire Group during the second quarter valued at $65,000. Point72 Asset Management L.P. lifted its holdings in United Fire Group by 576.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 4,611 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of United Fire Group by 82.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 3,098 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of United Fire Group during the third quarter worth about $211,000. Finally, XTX Topco Ltd acquired a new position in shares of United Fire Group in the second quarter valued at approximately $213,000. Hedge funds and other institutional investors own 62.68% of the company’s stock.

United Fire Group Company Profile

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.