United Fire Group (NASDAQ:UFCS) Reaches New 12-Month High – Should You Buy?

United Fire Group, Inc (NASDAQ:UFCS) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $37.99 and last traded at $37.71, with a volume of 1886 shares changing hands. The stock had previously closed at $36.83.

Analyst Ratings Changes

Several brokerages have recently commented on UFCS. Zacks Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen cut shares of United Fire Group from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Jones Trading boosted their target price on shares of United Fire Group from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Piper Sandler lifted their price target on United Fire Group from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of United Fire Group in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.50.

United Fire Group Stock Performance

The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.16. The firm has a market cap of $945.15 million, a PE ratio of 8.74 and a beta of 0.46. The firm has a 50-day moving average price of $36.05 and a two-hundred day moving average price of $33.08.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, December 5th. United Fire Group’s dividend payout ratio (DPR) is 15.09%.

Institutional Investors Weigh In On United Fire Group

A number of large investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH acquired a new stake in shares of United Fire Group in the third quarter valued at approximately $5,940,000. Invesco Ltd. grew its holdings in United Fire Group by 108.8% in the 2nd quarter. Invesco Ltd. now owns 347,008 shares of the insurance provider’s stock valued at $9,959,000 after buying an additional 180,836 shares in the last quarter. CSM Advisors LLC acquired a new stake in shares of United Fire Group in the 2nd quarter worth $4,154,000. AQR Capital Management LLC increased its stake in shares of United Fire Group by 59.5% in the 2nd quarter. AQR Capital Management LLC now owns 301,076 shares of the insurance provider’s stock worth $8,641,000 after acquiring an additional 112,318 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of United Fire Group by 79.4% during the 3rd quarter. UBS Group AG now owns 211,339 shares of the insurance provider’s stock worth $6,429,000 after acquiring an additional 93,525 shares during the period. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

About United Fire Group

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.