United Fire Group (NASDAQ:UFCS) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• United Fire Group's stock recently crossed above its two hundred day moving average, trading as high as $30.72, reflecting a market capitalization of $778.27 million.
• Analysts have given the stock a consensus rating of "Moderate Buy" with a target price of $30.50, while Zacks upgraded it to a "strong-buy" rating.
• The company reported earnings of $0.90 per share for its last quarter, exceeding analysts' expectations, although its revenue fell short of estimates at $314.80 million.

Shares of United Fire Group, Inc (NASDAQ:UFCS - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $28.86 and traded as high as $30.72. United Fire Group shares last traded at $30.53, with a volume of 101,023 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on UFCS. Zacks Research raised United Fire Group to a "strong-buy" rating in a research note on Friday, August 8th. Jones Trading increased their price target on United Fire Group from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of United Fire Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, United Fire Group has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

United Fire Group Stock Performance

The firm has a 50 day moving average of $30.93 and a 200-day moving average of $28.86. The stock has a market capitalization of $778.27 million, a PE ratio of 8.70 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 posted its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.33. The company had revenue of $314.80 million during the quarter, compared to the consensus estimate of $337.99 million. United Fire Group had a return on equity of 11.84% and a net margin of 6.94%. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 29th. United Fire Group's dividend payout ratio (DPR) is presently 18.23%.

Insider Buying and Selling at United Fire Group

In other news, Director John Paul E. Besong sold 2,450 shares of United Fire Group stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $32.26, for a total transaction of $79,037.00. Following the sale, the director owned 24,494 shares of the company's stock, valued at approximately $790,176.44. This trade represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.12% of the company's stock.

Hedge Funds Weigh In On United Fire Group

Several institutional investors have recently bought and sold shares of UFCS. Allspring Global Investments Holdings LLC acquired a new stake in shares of United Fire Group in the 1st quarter valued at $559,000. Teacher Retirement System of Texas increased its stake in shares of United Fire Group by 7.9% in the 1st quarter. Teacher Retirement System of Texas now owns 56,919 shares of the insurance provider's stock valued at $1,677,000 after buying an additional 4,148 shares during the period. Quantbot Technologies LP increased its stake in shares of United Fire Group by 859.3% in the 1st quarter. Quantbot Technologies LP now owns 8,797 shares of the insurance provider's stock valued at $259,000 after buying an additional 7,880 shares during the period. GAMMA Investing LLC increased its stake in shares of United Fire Group by 270.2% in the 1st quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock valued at $39,000 after buying an additional 970 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of 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 during the period. 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.

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