United Fire Group, Inc. (NASDAQ:UFCS) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,148 shares of the insurance provider’s stock after acquiring an additional 480 shares during the period. Rhumbline Advisers owned about 0.26% of United Fire Group worth $1,882,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new stake in United Fire Group during the fourth quarter valued at approximately $27,000. Point72 Asset Management L.P. increased its holdings in shares of United Fire Group by 576.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 4,611 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of United Fire Group by 82.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 3,098 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of United Fire Group in the 3rd quarter worth approximately $211,000. Finally, Yousif Capital Management LLC acquired a new position in shares of United Fire Group during the fourth quarter valued at $231,000. Institutional investors own 62.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com raised United Fire Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Piper Sandler increased their target price on shares of United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th.

Insider Activity at United Fire Group

In related news, VP Corey Lynn Ruehle sold 2,664 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $29.60, for a total transaction 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 approximately $370,680.80. The trade was a 17.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Noyce bought 2,000 shares of the stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $26.97 per share, for a total transaction of $53,940.00. Following the acquisition, the director now directly owns 27,316 shares in the company, valued at approximately $736,712.52. The trade was a 7.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.99% of the stock is owned by company insiders.

United Fire Group Stock Down 0.7 %

Shares of United Fire Group stock opened at $27.87 on Tuesday. The business has a fifty day simple moving average of $26.58 and a 200-day simple moving average of $24.47. The firm has a market cap of $707.37 million, a price-to-earnings ratio of 11.71 and a beta of 0.53. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $31.70.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. Analysts anticipate that United Fire Group, Inc. will post 2.42 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, March 7th. United Fire Group’s payout ratio is currently 26.89%.

United Fire Group 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.