Barclays PLC Grows Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Barclays PLC raised its position in United Fire Group, Inc. (NASDAQ:UFCS) by 147.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,380 shares of the insurance provider’s stock after buying an additional 26,469 shares during the period. Barclays PLC owned approximately 0.18% of United Fire Group worth $928,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of UFCS. Y Intercept Hong Kong Ltd acquired a new position in shares of United Fire Group in the third quarter worth about $211,000. State Street Corp increased its holdings in United Fire Group by 2.2% during the 3rd quarter. State Street Corp now owns 821,566 shares of the insurance provider’s stock worth $17,195,000 after purchasing an additional 17,415 shares during the last quarter. Systematic Financial Management LP raised its position in shares of United Fire Group by 11.0% in the 3rd quarter. Systematic Financial Management LP now owns 485,633 shares of the insurance provider’s stock valued at $10,164,000 after purchasing an additional 48,049 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of United Fire Group by 576.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after buying an additional 4,611 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of United Fire Group during the third quarter worth approximately $2,740,000. 62.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at United Fire Group

In related news, VP Corey Lynn Ruehle sold 2,664 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $29.60, for a total value of $78,854.40. Following the sale, the vice president now owns 12,523 shares of the company’s stock, valued at approximately $370,680.80. This trade represents a 17.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.99% of the company’s stock.

United Fire Group Stock Down 0.4 %

Shares of NASDAQ UFCS opened at $28.37 on Tuesday. The stock’s 50 day moving average price is $26.87 and its two-hundred day moving average price is $22.83. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70. The stock has a market capitalization of $718.95 million, a P/E ratio of 14.62 and a beta of 0.53.

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

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Friday, November 29th. United Fire Group’s dividend payout ratio (DPR) is presently 32.99%.

Analyst Upgrades and Downgrades

UFCS has been the topic of several recent analyst reports. Piper Sandler raised shares of United Fire Group from an “underweight” rating to a “neutral” rating and upped their price target for the company from $19.00 to $26.00 in a report on Monday, November 18th. StockNews.com raised shares of United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th.

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.