United Fire Group, Inc. (NASDAQ:UFCS) Short Interest Update

United Fire Group, Inc. (NASDAQ:UFCS) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 555,700 shares, a growth of 30.1% from the September 30th total of 427,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average trading volume of 115,800 shares, the days-to-cover ratio is presently 4.8 days.

United Fire Group Stock Performance

NASDAQ UFCS traded up $0.43 during trading hours on Monday, hitting $20.09. 101,882 shares of the company’s stock were exchanged, compared to its average volume of 105,153. The business’s 50 day moving average is $20.31 and its 200-day moving average is $21.19. The firm has a market capitalization of $509.08 million, a P/E ratio of 14.05 and a beta of 0.36. United Fire Group has a 12-month low of $18.04 and a 12-month high of $25.55.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $301.17 million during the quarter, compared to analyst estimates of $300.80 million. United Fire Group had a return on equity of 5.23% and a net margin of 3.17%. During the same quarter in the previous year, the business posted ($2.27) EPS. As a group, equities research analysts anticipate that United Fire Group will post 1.1 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The firm 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 3.19%. The ex-dividend date of this dividend was Friday, August 30th. United Fire Group’s dividend payout ratio is 44.76%.

Analysts Set New Price Targets

Several analysts recently issued reports on UFCS shares. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a 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 report on Thursday, August 8th.

Institutional Investors Weigh In On United Fire Group

Several hedge funds and other institutional investors have recently made changes to their positions in UFCS. Innealta Capital LLC bought a new position in United Fire Group during the second quarter worth about $65,000. Lion Street Advisors LLC acquired a new stake in United Fire Group in the second quarter valued at $201,000. Janus Henderson Group PLC acquired a new stake in United Fire Group in the first quarter valued at $202,000. XTX Topco Ltd acquired a new stake in United Fire Group in the second quarter valued at $213,000. Finally, Commonwealth Equity Services LLC acquired a new stake in United Fire Group during the 2nd quarter worth about $223,000. 62.68% of the stock is owned by institutional investors and hedge funds.

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.