United Fire Group, Inc. (NASDAQ:UFCS) Short Interest Update

United Fire Group, Inc. (NASDAQ:UFCS) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 364,500 shares, an increase of 44.2% from the May 31st total of 252,700 shares. Based on an average daily volume of 105,100 shares, the short-interest ratio is presently 3.5 days. Currently, 1.8% of the company’s stock are short sold.

United Fire Group Price Performance

Shares of UFCS stock traded up $0.48 during trading hours on Friday, hitting $21.49. The stock had a trading volume of 478,927 shares, compared to its average volume of 158,247. The stock’s 50 day moving average is $22.22 and its 200 day moving average is $21.98. United Fire Group has a twelve month low of $18.41 and a twelve month high of $25.55.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $296.00 million during the quarter, compared to analysts’ expectations of $282.30 million. United Fire Group had a negative net margin of 1.50% and a negative return on equity of 2.63%. As a group, equities analysts anticipate that United Fire Group will post 1.1 EPS for the current year.

United Fire Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.98%. The ex-dividend date was Friday, May 31st. United Fire Group’s dividend payout ratio (DPR) is presently -92.75%.

Insider Buying and Selling at United Fire Group

In other news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $21.06, for a total transaction of $52,650.00. Following the completion of the sale, the director now directly owns 449,363 shares of the company’s stock, valued at approximately $9,463,584.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.99% of the company’s stock.

Institutional Trading of United Fire Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in United Fire Group by 127.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,761 shares of the insurance provider’s stock worth $96,000 after buying an additional 2,669 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in United Fire Group by 22.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 957 shares during the period. Quest Partners LLC purchased a new stake in United Fire Group in the 4th quarter valued at approximately $113,000. New York State Common Retirement Fund increased its position in United Fire Group by 17.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,976 shares of the insurance provider’s stock worth $160,000 after purchasing an additional 1,203 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in shares of United Fire Group during the 1st quarter worth approximately $202,000. 62.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UFCS has been the topic of several recent analyst reports. StockNews.com cut shares of United Fire Group from a “strong-buy” rating to a “buy” rating in a report on Thursday. Piper Sandler reiterated an “underweight” rating and set a $21.00 price target on shares of United Fire Group in a research note on Monday, April 1st.

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.