Short Interest in United Fire Group, Inc. (NASDAQ:UFCS) Expands By 22.5%

United Fire Group, Inc. (NASDAQ:UFCSGet Rating) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 261,600 shares, a growth of 22.5% from the May 15th total of 213,500 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 76,600 shares, the short-interest ratio is presently 3.4 days.

NASDAQ UFCS opened at $31.12 on Friday. The company’s fifty day moving average price is $30.69 and its two-hundred day moving average price is $27.58. United Fire Group has a 12 month low of $19.85 and a 12 month high of $33.49. The company has a market capitalization of $781.95 million, a price-to-earnings ratio of 8.74 and a beta of 0.08.

United Fire Group (NASDAQ:UFCSGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The insurance provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.47. United Fire Group had a net margin of 8.93% and a return on equity of 8.61%. The company had revenue of $245.01 million for the quarter, compared to the consensus estimate of $246.30 million. During the same period last year, the firm posted ($0.03) EPS. As a group, research analysts predict that United Fire Group will post 2.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Friday, June 3rd will be given a $0.16 dividend. This is an increase from United Fire Group’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Thursday, June 2nd. United Fire Group’s dividend payout ratio (DPR) is presently 17.98%.

Several equities research analysts have recently issued reports on UFCS shares. Piper Sandler increased their price objective on shares of United Fire Group from $30.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, March 21st. TheStreet downgraded shares of United Fire Group from a “b-” rating to a “c” rating in a research note on Thursday, May 5th. Finally, StockNews.com started coverage on shares of United Fire Group in a research note on Thursday, March 31st. They set a “buy” rating on the stock.

In other news, Director James Noyce sold 2,145 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $30.42, for a total value of $65,250.90. Following the completion of the sale, the director now owns 17,054 shares of the company’s stock, valued at $518,782.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Eric J. Martin acquired 1,000 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was acquired at an average cost of $30.33 per share, with a total value of $30,330.00. Following the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at $30,330. The disclosure for this purchase can be found here. Corporate insiders own 5.71% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors lifted its position in shares of United Fire Group by 72.0% in the 1st quarter. Captrust Financial Advisors now owns 1,488 shares of the insurance provider’s stock worth $46,000 after buying an additional 623 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of United Fire Group by 51.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,838 shares of the insurance provider’s stock worth $119,000 after acquiring an additional 1,302 shares during the period. CWM LLC acquired a new stake in shares of United Fire Group in the 4th quarter worth about $124,000. Advisor Partners LLC acquired a new stake in shares of United Fire Group in the 4th quarter worth about $202,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of United Fire Group in the 3rd quarter worth about $203,000. Institutional investors own 60.65% of the company’s stock.

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.

Read More

Receive News & Ratings for United Fire Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Fire Group and related companies with MarketBeat.com's FREE daily email newsletter.