Barclays PLC Acquires 26,469 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Barclays PLC lifted its stake in United Fire Group, Inc. (NASDAQ:UFCS) by 147.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in United Fire Group by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider’s stock valued at $10,514,000 after acquiring an additional 2,925 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of United Fire Group in the third quarter worth $211,000. State Street Corp raised its stake in United Fire Group by 2.2% in the third quarter. State Street Corp now owns 821,566 shares of the insurance provider’s stock valued at $17,195,000 after purchasing an additional 17,415 shares in the last quarter. Systematic Financial Management LP lifted its position in United Fire Group by 11.0% during the third quarter. Systematic Financial Management LP now owns 485,633 shares of the insurance provider’s stock worth $10,164,000 after purchasing an additional 48,049 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in United Fire Group by 576.4% during the third quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock worth $113,000 after buying an additional 4,611 shares in the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

Wall Street Analyst Weigh In

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

United Fire Group Stock Up 2.2 %

NASDAQ:UFCS opened at $25.90 on Wednesday. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $31.70. The stock’s 50-day simple moving average is $28.49 and its 200 day simple moving average is $23.30. The firm has a market capitalization of $656.36 million, a PE ratio of 13.35 and a beta of 0.54.

United Fire Group (NASDAQ:UFCS) last announced 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. The company had revenue of $322.96 million for the quarter, compared to analyst estimates of $306.80 million. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. During the same period in the previous year, the firm posted $0.31 EPS. On average, analysts anticipate that United Fire Group, Inc. will post 1.84 EPS for the current fiscal year.

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Friday, November 29th. United Fire Group’s payout ratio is 32.99%.

Insider Activity at United Fire Group

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $29.60, for a total value of $78,854.40. Following the completion of the transaction, the vice president now owns 12,523 shares of the company’s stock, valued at $370,680.80. This represents a 17.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.99% of the stock is currently owned by company insiders.

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.