United Fire Group (NASDAQ:UFCS) Sees Unusually-High Trading Volume - 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%.

Shares of United Fire Group, Inc (NASDAQ:UFCS - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 93,625 shares changed 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

A number of equities research analysts have weighed in on UFCS shares. Wall Street Zen raised United Fire Group from a "buy" rating to a "strong-buy" rating in a research report 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 research report on Monday, May 12th.

United Fire Group Stock Performance

The firm has a 50 day simple moving average of $27.93 and a 200-day simple moving average of $27.49. 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 company has a market cap of $659.28 million, a price-to-earnings ratio of 10.26 and a beta of 0.50.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, topping the consensus estimate 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 business had revenue of $308.41 million during the quarter, compared to analyst estimates of $336.18 million. As a group, analysts predict that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.16 per share. The ex-dividend date was Friday, June 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.5%. United Fire Group's payout ratio is 25.30%.

Hedge Funds Weigh In On United Fire Group

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in United Fire Group by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider's stock worth $39,981,000 after purchasing an additional 55,616 shares during the period. Vanguard Group Inc. lifted its stake in United Fire Group by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 1,399,527 shares of the insurance provider's stock valued at $41,230,000 after buying an additional 49,290 shares in the last quarter. Systematic Financial Management LP lifted its stake in United Fire Group by 5.6% in the 1st quarter. Systematic Financial Management LP now owns 583,334 shares of the insurance provider's stock valued at $17,185,000 after buying an additional 31,140 shares in the last quarter. American Century Companies Inc. raised its holdings in United Fire Group by 76.5% in the 1st quarter. American Century Companies Inc. now owns 252,449 shares of the insurance provider's stock valued at $7,437,000 after acquiring an additional 109,453 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in United Fire Group by 1.2% in the 4th quarter. Northern Trust Corp now owns 220,022 shares of the insurance provider's stock valued at $6,260,000 after acquiring an additional 2,648 shares during the last quarter. Institutional investors and hedge funds 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.