United Fire Group (NASDAQ:UFCS) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of United Fire Group, Inc. (NASDAQ:UFCS) 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 traded.

Wall Street Analyst Weigh In

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

United Fire Group Price Performance

The firm has a market cap of $642.17 million, a price-to-earnings ratio of 13.06 and a beta of 0.54. The business has a 50-day moving average of $28.25 and a 200-day moving average of $23.24.

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, beating the consensus estimate of $0.21 by $0.60. The company had revenue of $322.96 million during the quarter, compared to the consensus estimate of $306.80 million. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, equities analysts anticipate that United Fire Group, Inc. will post 1.84 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 2.53%. United Fire Group’s dividend payout ratio (DPR) is currently 32.99%.

Insiders Place Their Bets

In related news, VP Corey Lynn Ruehle sold 2,664 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $29.60, for a total value of $78,854.40. Following the transaction, the vice president now owns 12,523 shares in the company, valued at approximately $370,680.80. This represents a 17.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.99% of the company’s stock.

Institutional Investors Weigh In On United Fire Group

A number of institutional investors have recently made changes to their positions in UFCS. Point72 Asset Management L.P. boosted its stake in United Fire Group by 576.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 4,611 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of United Fire Group by 82.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock valued at $144,000 after buying an additional 3,098 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in United Fire Group during the third quarter worth $211,000. XTX Topco Ltd bought a new position in shares of United Fire Group in the 2nd quarter valued at $213,000. Finally, Commonwealth Equity Services LLC bought a new position in United Fire Group in the second quarter valued at about $223,000. Institutional investors own 62.68% of the company’s stock.

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.