United Fire Group, Inc. (NASDAQ:UFCS) Short Interest Update

United Fire Group, Inc. (NASDAQ:UFCS) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 251,500 shares, a decline of 20.2% from the December 31st total of 315,300 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 137,900 shares, the short-interest ratio is currently 1.8 days.

Analyst Ratings Changes

Separately, Piper Sandler upgraded United Fire Group from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $19.00 to $26.00 in a research report on Monday, November 18th.

Insider Transactions at United Fire Group

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the transaction, the vice president now owns 12,523 shares in the company, valued at $370,680.80. The trade was a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.99% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of United Fire Group during the fourth quarter valued at approximately $27,000. Point72 Asset Management L.P. boosted its position in United Fire Group by 576.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 4,611 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of United Fire Group by 82.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock valued at $144,000 after acquiring an additional 3,098 shares during the period. Yousif Capital Management LLC bought a new position in shares of United Fire Group in the 4th quarter worth $231,000. Finally, Lion Street Advisors LLC purchased a new stake in shares of United Fire Group during the 4th quarter worth $266,000. 62.68% of the stock is currently owned by institutional investors.

United Fire Group Trading Down 1.7 %

Shares of UFCS opened at $24.81 on Monday. The firm has a market capitalization of $628.69 million, a P/E ratio of 12.79 and a beta of 0.53. United Fire Group has a 12-month low of $18.04 and a 12-month high of $31.70. The firm has a fifty day moving average price of $28.38 and a 200-day moving average price of $23.73.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.60. The firm had revenue of $322.96 million during the quarter, compared to the consensus estimate of $306.80 million. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Analysts predict that United Fire Group will post 1.84 earnings per share for the current year.

United Fire Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Friday, November 29th. United Fire Group’s dividend payout ratio (DPR) is presently 32.99%.

About United Fire Group

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.