United Fire Group (NASDAQ:UFCS) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• United Fire Group's share price has recently crossed above its 200-day moving average at $28.81, with the stock last trading at $30.77.
• The company reported an earnings per share (EPS) of $0.90 for the last quarter, surpassing analysts' estimates of $0.57, although revenue fell short of expectations.
• Analysts have mixed opinions, with Zacks upgrading the stock to a "strong-buy" rating, while Jones Trading increased its target price from $32.00 to $33.00.

Shares of United Fire Group, Inc (NASDAQ:UFCS - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $28.81 and traded as high as $31.08. United Fire Group shares last traded at $30.77, with a volume of 84,063 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on UFCS shares. Zacks Research raised shares of United Fire Group to a "strong-buy" rating in a report on Friday, August 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of United Fire Group in a report on Wednesday. Finally, Jones Trading boosted their target price on shares of United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $30.50.

United Fire Group Price Performance

The business's 50-day moving average price is $30.58 and its 200 day moving average price is $28.81. The stock has a market capitalization of $784.33 million, a PE ratio of 8.77 and a beta of 0.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.37 and a current ratio of 0.37.

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

United Fire Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a $0.16 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.64 annualized dividend and a yield of 2.1%. United Fire Group's payout ratio is 18.23%.

Insider Transactions at United Fire Group

In related news, Director John Paul E. Besong sold 2,450 shares of the company's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $32.26, for a total value of $79,037.00. Following the completion of the transaction, the director directly owned 24,494 shares in the company, valued at approximately $790,176.44. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.12% 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 stock. Allspring Global Investments Holdings LLC purchased a new position in United Fire Group in the first quarter worth $559,000. Teacher Retirement System of Texas lifted its stake in United Fire Group by 7.9% in the first quarter. Teacher Retirement System of Texas now owns 56,919 shares of the insurance provider's stock worth $1,677,000 after purchasing an additional 4,148 shares during the last quarter. Quantbot Technologies LP lifted its stake in United Fire Group by 859.3% in the first quarter. Quantbot Technologies LP now owns 8,797 shares of the insurance provider's stock worth $259,000 after purchasing an additional 7,880 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 worth $39,000 after purchasing an additional 970 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in United Fire Group by 3.7% in the first quarter. Vanguard Group Inc. now owns 1,399,527 shares of the insurance provider's stock worth $41,230,000 after purchasing an additional 49,290 shares during the last quarter. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.