United Fire Group, Inc. (NASDAQ:UFCS) Short Interest Up 51.5% in April

United Fire Group, Inc. (NASDAQ:UFCS) saw a large increase in short interest during the month of 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. Based on an average daily volume of 86,500 shares, the short-interest ratio is presently 2.2 days. Currently, 0.9% of the company’s stock are short sold.

Insider Buying and Selling at United Fire Group

In other news, VP Micah G. Woolstenhulme acquired 1,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were bought at an average cost of $21.76 per share, with a total value of $32,640.00. Following the transaction, the vice president now owns 32,763 shares in the company, valued at approximately $712,922.88. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Micah G. Woolstenhulme acquired 1,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were bought at an average cost of $21.76 per share, with a total value of $32,640.00. Following the transaction, the vice president now owns 32,763 shares in the company, valued at approximately $712,922.88. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were 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 directly owns 451,863 shares in the company, valued at $9,895,799.70. The disclosure for this sale can be found here. Insiders own 5.99% of the company’s stock.

Institutional Trading of United Fire Group

A number of large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in United Fire Group by 4.5% during the 3rd quarter. Invesco Ltd. now owns 373,607 shares of the insurance provider’s stock worth $7,379,000 after purchasing an additional 16,134 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in United Fire Group by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,590 shares of the insurance provider’s stock worth $7,315,000 after purchasing an additional 27,213 shares during the period. Envestnet Asset Management Inc. boosted its stake in United Fire Group by 111.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 178,041 shares of the insurance provider’s stock worth $3,516,000 after purchasing an additional 93,810 shares during the period. Foundry Partners LLC boosted its stake in United Fire Group by 8.8% during the 4th quarter. Foundry Partners LLC now owns 158,661 shares of the insurance provider’s stock worth $3,192,000 after purchasing an additional 12,815 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in United Fire Group by 134.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 143,123 shares of the insurance provider’s stock worth $2,827,000 after purchasing an additional 82,037 shares during the period. Institutional investors and hedge funds own 62.68% of the company’s stock.

United Fire Group Stock Down 0.8 %

NASDAQ UFCS opened at $22.23 on Monday. The firm’s fifty day moving average price is $22.36 and its 200 day moving average price is $21.44. United Fire Group has a 12 month low of $18.41 and a 12 month high of $27.72.

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

United Fire Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on UFCS shares. StockNews.com raised shares of United Fire Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 14th. Piper Sandler reaffirmed an “underweight” rating and issued a $21.00 target price on shares of United Fire Group in a research report on Monday, April 1st.

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.