United Fire Group, Inc. (NASDAQ:UFCS) Short Interest Down 19.0% in April

United Fire Group, Inc. (NASDAQ:UFCSGet Rating) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 223,300 shares, a drop of 19.0% from the March 31st total of 275,600 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 77,200 shares, the days-to-cover ratio is currently 2.9 days.

Shares of NASDAQ UFCS opened at $29.44 on Tuesday. The stock has a market capitalization of $739.50 million, a P/E ratio of 9.26 and a beta of 0.05. The company has a 50-day moving average price of $29.30 and a 200-day moving average price of $25.51. United Fire Group has a 1 year low of $19.85 and a 1 year high of $33.31.

United Fire Group (NASDAQ:UFCSGet Rating) last issued its quarterly earnings data on Tuesday, February 15th. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $1.36. The firm had revenue of $253.36 million during the quarter, compared to analysts’ expectations of $250.80 million. United Fire Group had a net margin of 7.56% and a return on equity of 5.14%. During the same period last year, the company earned ($1.30) earnings per share. On average, research analysts forecast that United Fire Group will post 2 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Friday, March 4th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, March 3rd. United Fire Group’s payout ratio is currently 18.87%.

A number of equities research analysts have commented on UFCS shares. TheStreet upgraded shares of United Fire Group from a “c” rating to a “b-” rating in a report on Tuesday, March 15th. Zacks Investment Research cut shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 20th. Piper Sandler raised their price target on shares of United Fire Group from $30.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, March 21st. Finally, StockNews.com began coverage on shares of United Fire Group in a report on Thursday, March 31st. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, United Fire Group has a consensus rating of “Buy” and an average target price of $36.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of United Fire Group by 1.5% during the fourth quarter. BlackRock Inc. now owns 3,537,605 shares of the insurance provider’s stock valued at $82,036,000 after purchasing an additional 50,612 shares in the last quarter. Earnest Partners LLC lifted its position in shares of United Fire Group by 1.1% during the fourth quarter. Earnest Partners LLC now owns 1,793,931 shares of the insurance provider’s stock valued at $41,601,000 after purchasing an additional 19,869 shares in the last quarter. State Street Corp lifted its position in shares of United Fire Group by 2.9% during the fourth quarter. State Street Corp now owns 762,497 shares of the insurance provider’s stock valued at $17,682,000 after purchasing an additional 21,599 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of United Fire Group by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 366,338 shares of the insurance provider’s stock valued at $8,495,000 after purchasing an additional 12,316 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of United Fire Group by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 279,066 shares of the insurance provider’s stock valued at $6,472,000 after purchasing an additional 18,368 shares in the last quarter. 60.65% of the stock is currently owned by institutional investors.

United Fire Group Company Profile (Get Rating)

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 commercial multiple peril and inland marine insurance, as well as assumed reinsurance products.

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