United Fire Group (NASDAQ:UFCS) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of United Fire Group, Inc (NASDAQ:UFCS) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.71 and traded as high as $36.09. United Fire Group shares last traded at $35.94, with a volume of 141,684 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on UFCS. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of United Fire Group in a research report on Monday, December 29th. Zacks Research cut United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen cut shares of United Fire Group from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler lifted their price objective on shares of United Fire Group from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Finally, Jones Trading increased their target price on shares of United Fire Group from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.50.

United Fire Group Trading Up 0.9%

The company has a market cap of $916.83 million, a P/E ratio of 8.48 and a beta of 0.45. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $36.05 and a 200-day moving average price of $32.71.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Tuesday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.81. The business had revenue of $354.02 million during the quarter, compared to analysts’ expectations of $354.46 million. United Fire Group had a net margin of 8.22% and a return on equity of 13.64%. 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 firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, December 5th. United Fire Group’s payout ratio is 15.09%.

Institutional Investors Weigh In On United Fire Group

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of United Fire Group by 19.8% during the fourth quarter. GAMMA Investing LLC now owns 1,743 shares of the insurance provider’s stock worth $63,000 after buying an additional 288 shares in the last quarter. NewEdge Advisors LLC increased its position in United Fire Group by 17.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 375 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in United Fire Group by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,883 shares of the insurance provider’s stock worth $226,000 after purchasing an additional 391 shares in the last quarter. PNC Financial Services Group Inc. increased its position in United Fire Group by 7.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,024 shares of the insurance provider’s stock valued at $173,000 after acquiring an additional 399 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of United Fire Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,482 shares of the insurance provider’s stock valued at $368,000 after buying an additional 546 shares during the period. Institutional investors own 62.68% of the company’s stock.

About United Fire Group

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.