United Fire Group (NASDAQ:UFCS) Shares Cross Above 200 Day Moving Average - Time to Sell?

Shares of United Fire Group, Inc (NASDAQ:UFCS - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on UFCS. Jones Trading reiterated a "buy" rating and issued a $32.00 target price on shares of United Fire Group in a report on Monday, May 12th. Wall Street Zen upgraded shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th.

United Fire Group Trading Down 1.0%

The stock has a market cap of $700.13 million, a P/E ratio of 10.87 and a beta of 0.50. The firm's fifty day moving average is $28.21 and its 200 day moving average is $27.55.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its 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 net margin of 5.13% and a return on equity of 9.01%. The firm had revenue of $308.41 million for the quarter, compared to the consensus estimate of $336.18 million. Research analysts forecast that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.64 annualized dividend and a dividend yield of 2.33%. United Fire Group's payout ratio is 25.30%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC increased its holdings in shares of 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 purchasing an additional 23,492 shares during the period. Inspire Investing LLC bought a new position in shares of United Fire Group during the 1st quarter worth about $783,000. Acadian Asset Management LLC increased its holdings in shares of 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 purchasing an additional 19,045 shares during the period. Focus Partners Wealth bought a new position in shares of United Fire Group during the 1st quarter worth about $818,000. Finally, Jane Street Group LLC increased its holdings in shares of 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 purchasing an additional 36,035 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.