United Fire Group, Inc. (NASDAQ:UFCS) Short Interest Update

United Fire Group, Inc. (NASDAQ:UFCS) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 188,800 shares, an increase of 51.5% from the March 31st total of 124,600 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 86,500 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Piper Sandler restated an “underweight” rating and set a $21.00 target price on shares of United Fire Group in a research report on Monday, April 1st. StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 14th.

Insider Activity

In related news, VP Micah G. Woolstenhulme acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average price of $21.76 per share, with a total value of $32,640.00. Following the acquisition, the vice president now owns 32,763 shares of the company’s stock, valued at approximately $712,922.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Micah G. Woolstenhulme bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average price of $21.76 per share, with a total value of $32,640.00. Following the acquisition, the vice president now owns 32,763 shares of the company’s stock, valued at approximately $712,922.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $21.90, for a total transaction of $54,750.00. Following the completion of the sale, the director now owns 451,863 shares in the company, valued at $9,895,799.70. The disclosure for this sale can be found here. 5.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Fire Group

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in United Fire Group in the 3rd quarter worth approximately $67,000. Tower Research Capital LLC TRC grew its position in United Fire Group by 127.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,761 shares of the insurance provider’s stock valued at $96,000 after acquiring an additional 2,669 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of United Fire Group by 22.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 957 shares in the last quarter. Quest Partners LLC bought a new stake in shares of United Fire Group in the 4th quarter worth approximately $113,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of United Fire Group by 17.8% in the 4th quarter. New York State Common Retirement Fund now owns 7,976 shares of the insurance provider’s stock worth $160,000 after acquiring an additional 1,203 shares during the last quarter. 62.68% of the stock is currently owned by institutional investors.

United Fire Group Price Performance

Shares of United Fire Group stock opened at $22.23 on Friday. United Fire Group has a 1 year low of $18.41 and a 1 year high of $27.72. The firm has a market cap of $561.97 million, a PE ratio of -18.84 and a beta of 0.35. The company has a 50 day simple moving average of $22.36 and a two-hundred day simple moving average of $21.43.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Tuesday, February 13th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. United Fire Group had a negative net margin of 2.71% and a negative return on equity of 4.38%. The company had revenue of $287.32 million during the quarter, compared to the consensus estimate of $278.70 million. As a group, research analysts anticipate that United Fire Group will post 1.1 earnings per share for the current year.

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.88%. The ex-dividend date was Thursday, March 7th. United Fire Group’s dividend payout ratio (DPR) is currently -54.24%.

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.