United Fire Group (NASDAQ:UFCS) Hits New 12-Month High – Should You Buy?

United Fire Group, Inc. (NASDAQ:UFCS)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $25.64 and last traded at $25.64, with a volume of 37216 shares. The stock had previously closed at $24.34.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UFCS shares. StockNews.com raised shares of United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Piper Sandler lowered their price objective on United Fire Group from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th.

United Fire Group Stock Up 0.3 %

The firm has a market cap of $644.65 million, a P/E ratio of 13.15 and a beta of 0.37. The business’s 50 day moving average is $20.68 and its 200-day moving average is $21.17.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $0.31 earnings per share. As a group, equities analysts predict that United Fire Group, Inc. will post 1.1 earnings per share for the current year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.52%. The ex-dividend date was Friday, August 30th. United Fire Group’s dividend payout ratio (DPR) is 32.99%.

Institutional Investors Weigh In On United Fire Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Foundry Partners LLC lifted its position in United Fire Group by 71.9% in the third quarter. Foundry Partners LLC now owns 178,155 shares of the insurance provider’s stock worth $3,729,000 after purchasing an additional 74,540 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in United Fire Group by 126.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,324 shares of the insurance provider’s stock valued at $2,497,000 after buying an additional 66,676 shares in the last quarter. Empowered Funds LLC boosted its stake in United Fire Group by 5.4% during the third quarter. Empowered Funds LLC now owns 71,070 shares of the insurance provider’s stock valued at $1,487,000 after buying an additional 3,618 shares in the last quarter. GSA Capital Partners LLP raised its position in United Fire Group by 12.9% in the third quarter. GSA Capital Partners LLP now owns 84,851 shares of the insurance provider’s stock worth $1,776,000 after acquiring an additional 9,704 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in United Fire Group by 16.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 46,710 shares of the insurance provider’s stock valued at $978,000 after acquiring an additional 6,640 shares during the last quarter. 62.68% of the stock is currently owned by institutional investors.

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.