United Fire Group, Inc. (NASDAQ:UFCS) has been assigned a $44.00 price objective by equities research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Monday. The brokerage currently has a “hold” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 3.85% from the company’s previous close.
Shares of United Fire Group (NASDAQ:UFCS) traded up 0.26% on Monday, reaching $42.48. 31,370 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $43.58 and its 200-day moving average price is $44.45. United Fire Group has a 52-week low of $37.54 and a 52-week high of $50.75. The stock has a market cap of $1.08 billion, a P/E ratio of 22.01 and a beta of 0.40.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were issued a $0.25 dividend. The ex-dividend date was Monday, February 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. United Fire Group’s dividend payout ratio (DPR) is currently 37.17%.
In other news, VP Barrie W. Ernst sold 6,849 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $49.00, for a total value of $335,601.00. Following the completion of the transaction, the vice president now owns 19,730 shares of the company’s stock, valued at $966,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kyle D. Skogman sold 1,727 shares of the stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $48.85, for a total transaction of $84,363.95. Following the completion of the transaction, the director now directly owns 24,920 shares of the company’s stock, valued at approximately $1,217,342. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its position in United Fire Group by 10.8% in the third quarter. BlackRock Fund Advisors now owns 1,518,486 shares of the company’s stock worth $64,262,000 after buying an additional 147,567 shares during the period. Systematic Financial Management LP boosted its position in United Fire Group by 0.8% in the fourth quarter. Systematic Financial Management LP now owns 567,190 shares of the company’s stock worth $27,889,000 after buying an additional 4,232 shares during the period. State Street Corp boosted its position in United Fire Group by 7.2% in the fourth quarter. State Street Corp now owns 477,548 shares of the company’s stock worth $23,484,000 after buying an additional 32,180 shares during the period. Norges Bank purchased a new position in United Fire Group during the fourth quarter valued at about $18,557,000. Finally, Macquarie Group Ltd. increased its position in United Fire Group by 27.3% in the second quarter. Macquarie Group Ltd. now owns 345,386 shares of the company’s stock valued at $14,655,000 after buying an additional 74,120 shares in the last quarter. 60.23% of the stock is owned by hedge funds and other institutional investors.
About United Fire Group
United Fire Group, Inc, formerly United Fire & Casualty Company, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. The Company operates in two segments: property and casualty insurance, and life insurance. The Company’s property and casualty insurance segment consists of commercial lines insurance, including surety bonds, personal lines insurance and assumed insurance.