United Fire Group (NASDAQ:UFCS) Sees Large Volume Increase - Should You Buy?

Key Points

• United Fire Group's shares saw unusual trading volume, with approximately 93,625 shares changing hands, a notable decrease from 124,308 shares in the previous session, while the stock last traded at $27.36.
• The company reported earnings per share (EPS) of $0.70 for the recent quarter, beating analysts' estimates of $0.62, although revenue fell short at $308.41 million compared to expectations of $336.18 million.
• United Fire Group declared a quarterly dividend of $0.16, representing an annualized dividend of $0.64 with a yield of 2.34%, and has a payout ratio of 25.30%.

United Fire Group, Inc (NASDAQ:UFCS - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 93,625 shares traded hands during trading, a decline of 25% from the previous session's volume of 124,308 shares.The stock last traded at $27.36 and had previously closed at $26.72.

Analyst Upgrades and Downgrades

UFCS has been the topic of a number of research analyst reports. Wall Street Zen upgraded United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Jones Trading reaffirmed a "buy" rating and set a $32.00 target price on shares of United Fire Group in a report on Monday, May 12th.

United Fire Group Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market cap of $664.53 million, a price-to-earnings ratio of 10.32 and a beta of 0.50. The stock has a fifty day moving average of $27.90 and a 200 day moving average of $27.49.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its earnings results on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. United Fire Group had a return on equity of 9.01% and a net margin of 5.13%. The firm had revenue of $308.41 million during the quarter, compared to the consensus estimate of $336.18 million. On average, analysts expect that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.64 dividend on an annualized basis and a yield of 2.5%. United Fire Group's payout ratio is presently 25.30%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its holdings in United Fire Group by 131.3% in the first quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 633 shares during the period. GAMMA Investing LLC lifted its holdings in United Fire Group by 270.2% in the first quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 970 shares during the period. NewEdge Advisors LLC acquired a new position in United Fire Group in the fourth quarter valued at approximately $60,000. Aquatic Capital Management LLC lifted its holdings in United Fire Group by 716.3% in the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock valued at $70,000 after acquiring an additional 2,149 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in United Fire Group by 1,241.8% in the first quarter. Farther Finance Advisors LLC now owns 4,428 shares of the insurance provider's stock valued at $131,000 after acquiring an additional 4,098 shares during the period. 62.68% of the stock is owned by institutional investors and hedge funds.

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.