United Fire Group, Inc. (NASDAQ:UFCS) Director James Noyce Acquires 2,000 Shares

United Fire Group, Inc. (NASDAQ:UFCS) Director James Noyce acquired 2,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were bought at an average price of $26.97 per share, with a total value of $53,940.00. Following the completion of the purchase, the director now directly owns 27,316 shares of the company’s stock, valued at approximately $736,712.52. This represents a 7.90 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

United Fire Group Stock Performance

Shares of UFCS opened at $26.50 on Friday. The company has a market cap of $671.51 million, a price-to-earnings ratio of 13.66 and a beta of 0.53. The stock has a fifty day moving average price of $27.33 and a two-hundred day moving average price of $23.97. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. As a group, research analysts predict that United Fire Group, Inc. will post 1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On United Fire Group

A number of institutional investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV acquired a new stake in shares of United Fire Group in the fourth quarter valued at approximately $217,000. Northern Trust Corp boosted its position in United Fire Group by 1.2% in the 4th quarter. Northern Trust Corp now owns 220,022 shares of the insurance provider’s stock valued at $6,260,000 after buying an additional 2,648 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of United Fire Group in the 4th quarter valued at $223,000. Tudor Investment Corp ET AL increased its stake in shares of United Fire Group by 13.8% in the 4th quarter. Tudor Investment Corp ET AL now owns 79,832 shares of the insurance provider’s stock valued at $2,271,000 after buying an additional 9,708 shares during the period. Finally, Aquatic Capital Management LLC raised its position in shares of United Fire Group by 716.3% during the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider’s stock worth $70,000 after acquiring an additional 2,149 shares during the last quarter. 62.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UFCS. Piper Sandler upped their target price on shares of United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com raised shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday.

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.