United Fire Group (NASDAQ:UFCS) Share Price Passes Above 200 Day Moving Average – Time to Sell?

United Fire Group, Inc. (NASDAQ:UFCS) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.24 and traded as high as $25.90. United Fire Group shares last traded at $25.34, with a volume of 172,484 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on UFCS. StockNews.com raised United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Piper Sandler upgraded shares of United Fire Group from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $19.00 to $26.00 in a report on Monday, November 18th.

United Fire Group Price Performance

The stock’s 50-day moving average price is $28.52 and its 200 day moving average price is $23.33. The firm has a market capitalization of $671.56 million, a PE ratio of 13.66 and a beta of 0.54.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.21 by $0.60. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. The company had revenue of $322.96 million for the quarter, compared to the consensus estimate of $306.80 million. During the same period last year, the business posted $0.31 EPS. Equities research analysts forecast that United Fire Group, Inc. will post 1.84 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.42%. United Fire Group’s payout ratio is currently 32.99%.

Insiders Place Their Bets

In related news, VP Corey Lynn Ruehle sold 2,664 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total value of $78,854.40. Following the completion of the transaction, the vice president now owns 12,523 shares of the company’s stock, valued at $370,680.80. The trade was a 17.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.99% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in United Fire Group by 27.3% during the third quarter. JPMorgan Chase & Co. now owns 99,623 shares of the insurance provider’s stock valued at $2,085,000 after purchasing an additional 21,352 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of United Fire Group during the third quarter valued at about $575,000. Barclays PLC boosted its holdings in shares of United Fire Group by 147.8% in the 3rd quarter. Barclays PLC now owns 44,380 shares of the insurance provider’s stock valued at $928,000 after buying an additional 26,469 shares in the last quarter. Geode Capital Management LLC grew its position in shares of United Fire Group by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider’s stock worth $10,514,000 after buying an additional 2,925 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of United Fire Group in the 3rd quarter worth approximately $211,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

About United Fire Group

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.