Quantbot Technologies LP Cuts Stock Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Quantbot Technologies LP lowered its position in United Fire Group, Inc. (NASDAQ:UFCS) by 79.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 917 shares of the insurance provider’s stock after selling 3,453 shares during the period. Quantbot Technologies LP’s holdings in United Fire Group were worth $26,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. State Street Corp increased its position in shares of United Fire Group by 2.2% during the 3rd 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 during the last quarter. Geode Capital Management LLC grew its position in United Fire Group by 0.6% during the third quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider’s stock valued at $10,514,000 after buying an additional 2,925 shares during the period. Systematic Financial Management LP increased its holdings 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 buying an additional 48,049 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in United Fire Group by 11.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 133,434 shares of the insurance provider’s stock worth $3,796,000 after acquiring an additional 14,110 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in United Fire Group in the third quarter valued at about $2,740,000. 62.68% of the stock is owned by institutional investors.

United Fire Group Price Performance

Shares of United Fire Group stock opened at $29.65 on Wednesday. The business’s 50 day simple moving average is $27.11 and its two-hundred day simple moving average is $25.78. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $31.70. The stock has a market capitalization of $752.55 million, a P/E ratio of 12.46 and a beta of 0.45.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. Sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.16%. The ex-dividend date was Friday, March 7th. United Fire Group’s dividend payout ratio is currently 26.89%.

Insider Buying and Selling at United Fire Group

In other United Fire Group news, major shareholder Dee Ann Mcintyre sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $27.31, for a total transaction of $68,275.00. Following the transaction, the insider now owns 446,863 shares in the company, valued at approximately $12,203,828.53. This represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Noyce bought 2,000 shares of the firm’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 owns 27,316 shares in the company, valued at approximately $736,712.52. The trade was a 7.90 % increase in their position. The disclosure for this purchase can be found here. Insiders own 5.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on UFCS. StockNews.com raised shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Piper Sandler boosted their price target 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. Finally, Jones Trading raised shares of United Fire Group to a “strong-buy” rating and set a $32.00 price objective for the company in a report on Wednesday, March 5th.

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.