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

United Fire Group, Inc. (NASDAQ:UFCS) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $31.14 and last traded at $30.52, with a volume of 22076 shares changing hands. The stock had previously closed at $29.89.

Wall Street Analyst Weigh In

Several analysts recently issued reports on UFCS shares. StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Piper Sandler raised United Fire Group from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $19.00 to $26.00 in a report on Monday, November 18th.

United Fire Group Price Performance

The company has a market capitalization of $781.80 million, a P/E ratio of 15.71 and a beta of 0.37. The stock has a 50-day moving average price of $21.79 and a 200-day moving average price of $21.42.

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

United Fire Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 2.07%. United Fire Group’s payout ratio is 32.99%.

Institutional Trading of United Fire Group

Several large investors have recently bought and sold shares of the company. Systematic Financial Management LP raised its stake in United Fire Group by 11.6% during the second quarter. Systematic Financial Management LP now owns 437,584 shares of the insurance provider’s stock valued at $9,404,000 after buying an additional 45,405 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of United Fire Group during the second quarter valued at $4,770,000. Price T Rowe Associates Inc. MD increased its holdings in United Fire Group by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,986 shares of the insurance provider’s stock worth $915,000 after buying an additional 1,071 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in United Fire Group in the 3rd quarter worth about $761,000. Finally, Janus Henderson Group PLC bought a new position in United Fire Group during the 1st quarter valued at about $202,000. 62.68% of the stock is owned by 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.