United Fire Group (NASDAQ:UFCS) CFO Eric J. Martin Buys 500 Shares

Key Points

• Eric J. Martin, CFO of United Fire Group, purchased 500 shares at $29.00 per share, increasing his ownership to 35,155 shares, valued at approximately $1,019,495.
• United Fire Group reported a quarterly EPS of $0.90, exceeding analyst expectations of $0.57, despite revenue falling short of estimates at $314.80 million.
• The company recently announced a quarterly dividend of $0.16 per share, representing an annual yield of 2.1% and maintaining a dividend payout ratio of 18.23%.

United Fire Group, Inc (NASDAQ:UFCS - Get Free Report) CFO Eric J. Martin acquired 500 shares of United Fire Group stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average price of $29.00 per share, for a total transaction of $14,500.00. Following the transaction, the chief financial officer owned 35,155 shares of the company's stock, valued at $1,019,495. This represents a 1.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

United Fire Group Trading Up 2.0%

NASDAQ:UFCS traded up $0.60 during trading hours on Wednesday, hitting $31.16. The company had a trading volume of 117,012 shares, compared to its average volume of 140,205. United Fire Group, Inc has a 1 year low of $19.19 and a 1 year high of $31.70. The company has a market cap of $794.33 million, a P/E ratio of 8.88 and a beta of 0.53. The company has a 50-day moving average of $28.23 and a 200 day moving average of $27.83. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.14.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.33. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. The firm had revenue of $314.80 million for the quarter, compared to analysts' expectations of $337.99 million. Sell-side analysts expect that United Fire Group, Inc will post 2.42 earnings per share for the current year.

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.1%. United Fire Group's dividend payout ratio is 18.23%.

Analyst Upgrades and Downgrades

UFCS has been the subject of several analyst reports. Jones Trading increased their price objective on United Fire Group from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Wall Street Zen raised United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, Zacks Research upgraded United Fire Group to a "strong-buy" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, United Fire Group presently has an average rating of "Buy" and a consensus price target of $30.50.

Hedge Funds Weigh In On United Fire Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board increased its position in shares of United Fire Group by 8.0% during the second quarter. Public Sector Pension Investment Board now owns 72,890 shares of the insurance provider's stock worth $2,092,000 after acquiring an additional 5,382 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in United Fire Group by 12.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 17,777 shares of the insurance provider's stock worth $510,000 after purchasing an additional 1,943 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in United Fire Group by 301.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the insurance provider's stock worth $65,000 after purchasing an additional 1,699 shares during the period. Man Group plc increased its holdings in United Fire Group by 148.5% during the 2nd quarter. Man Group plc now owns 77,217 shares of the insurance provider's stock worth $2,216,000 after purchasing an additional 46,141 shares during the period. Finally, BNP Paribas Financial Markets raised its position in United Fire Group by 7.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 57,836 shares of the insurance provider's stock valued at $1,660,000 after purchasing an additional 4,064 shares in the last quarter. Hedge funds and other institutional investors own 62.68% of the company's stock.

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.