Insider Buying: United Fire Group, Inc. (NASDAQ:UFCS) CFO Purchases 1,000 Shares of Stock

United Fire Group, Inc. (NASDAQ:UFCSGet Rating) CFO Eric J. Martin acquired 1,000 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were bought at an average cost of $30.33 per share, for a total transaction of $30,330.00. Following the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $30,330. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NASDAQ:UFCS opened at $30.13 on Friday. The firm has a market capitalization of $757.08 million, a PE ratio of 8.46 and a beta of 0.09. The business’s fifty day moving average price is $29.66 and its 200 day moving average price is $25.87. United Fire Group, Inc. has a 12 month low of $19.85 and a 12 month high of $33.31.

United Fire Group (NASDAQ:UFCSGet Rating) last posted its earnings results on Thursday, May 5th. The insurance provider reported $1.13 EPS for the quarter, beating the consensus estimate of $0.84 by $0.29. United Fire Group had a return on equity of 8.59% and a net margin of 8.93%. During the same period last year, the firm earned ($0.03) EPS. On average, equities research analysts anticipate that United Fire Group, Inc. will post 2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Friday, March 4th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.99%. The ex-dividend date was Thursday, March 3rd. United Fire Group’s dividend payout ratio (DPR) is presently 16.85%.

A number of analysts have recently weighed in on UFCS shares. Zacks Investment Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 20th. StockNews.com started coverage on United Fire Group in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Piper Sandler upped their price objective on United Fire Group from $30.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, March 21st. Finally, TheStreet lowered United Fire Group from a “b-” rating to a “c” rating in a research report on Thursday, May 5th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, United Fire Group presently has an average rating of “Buy” and a consensus price target of $36.00.

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings 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 buying an additional 1,302 shares during the last quarter. CWM LLC purchased a new position in shares of United Fire Group during the fourth quarter worth about $124,000. KBC Group NV purchased a new position in shares of United Fire Group during the third quarter worth about $176,000. Advisor Partners LLC purchased a new position in shares of United Fire Group during the fourth quarter worth about $202,000. Finally, Hsbc Holdings PLC purchased a new position in shares of United Fire Group during the third quarter worth about $203,000. 60.65% of the stock is currently owned by hedge funds and other institutional investors.

About United Fire Group (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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