United Fire Group (NASDAQ:UFCS) Stock Price Passes Above 200-Day Moving Average - What's Next?

United Fire Group, Inc (NASDAQ:UFCS - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.56 and traded as high as $28.12. United Fire Group shares last traded at $27.59, with a volume of 156,793 shares.

Wall Street Analysts Forecast Growth

UFCS has been the topic of several recent research reports. Wall Street Zen upgraded United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th. Jones Trading reiterated a "buy" rating and issued a $32.00 price objective on shares of United Fire Group in a report on Monday, May 12th.

United Fire Group Trading Down 1.1%

The firm has a market cap of $699.16 million, a PE ratio of 10.89 and a beta of 0.50. The business has a fifty day moving average price of $28.22 and a 200 day moving average price of $27.56.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, beating 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 business had revenue of $308.41 million for the quarter, compared to the consensus estimate of $336.18 million. On average, research analysts expect that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.16 per share. 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 2.33%. United Fire Group's dividend payout ratio is presently 25.30%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its stake in United Fire Group by 179.8% during the 1st quarter. Voya Investment Management LLC now owns 36,561 shares of the insurance provider's stock worth $1,077,000 after buying an additional 23,492 shares during the last quarter. Inspire Investing LLC purchased a new position in United Fire Group during the 1st quarter worth approximately $783,000. Acadian Asset Management LLC grew its stake in United Fire Group by 22.3% during the 1st quarter. Acadian Asset Management LLC now owns 104,469 shares of the insurance provider's stock worth $3,075,000 after buying an additional 19,045 shares during the last quarter. Focus Partners Wealth purchased a new position in United Fire Group during the 1st quarter worth approximately $818,000. Finally, Jane Street Group LLC grew its stake in United Fire Group by 143.5% during the 1st quarter. Jane Street Group LLC now owns 61,143 shares of the insurance provider's stock worth $1,801,000 after buying an additional 36,035 shares during 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.