Prudential Financial Inc. Has $3.26 Million Stake in United Fire Group, Inc. (NASDAQ:UFCS)

Prudential Financial Inc. lessened its position in United Fire Group, Inc. (NASDAQ:UFCS) by 19.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,402 shares of the insurance provider’s stock after selling 27,850 shares during the period. Prudential Financial Inc. owned 0.45% of United Fire Group worth $3,255,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of United Fire Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,350,237 shares of the insurance provider’s stock worth $38,414,000 after purchasing an additional 16,588 shares during the last quarter. State Street Corp grew 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 acquiring an additional 17,415 shares during the last quarter. Geode Capital Management LLC increased its position 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 during the period. Systematic Financial Management LP lifted its holdings in shares of 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, American Century Companies Inc. grew its stake in shares of United Fire Group by 87.6% in the fourth quarter. American Century Companies Inc. now owns 142,996 shares of the insurance provider’s stock worth $4,068,000 after purchasing an additional 66,756 shares during the last quarter. 62.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UFCS has been the subject of several analyst reports. Piper Sandler raised their target price on United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. StockNews.com upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Jones Trading upgraded United Fire Group to a “strong-buy” rating and set a $32.00 target price on the stock in a report on Wednesday, March 5th.

Insider Transactions at United Fire Group

In other news, Director James Noyce bought 2,000 shares of United Fire Group stock in a transaction dated Friday, February 14th. The stock was bought at an average cost of $26.97 per share, for a total transaction of $53,940.00. Following the purchase, the director now directly owns 27,316 shares in the company, valued at approximately $736,712.52. This represents a 7.90 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Dee Ann Mcintyre sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $27.31, for a total value of $68,275.00. Following the completion of the sale, the insider now directly owns 446,863 shares of the company’s stock, valued at $12,203,828.53. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.99% of the company’s stock.

United Fire Group Stock Down 0.3 %

UFCS stock opened at $29.55 on Thursday. The firm has a market cap of $750.01 million, a price-to-earnings ratio of 12.42 and a beta of 0.45. The company’s fifty day simple moving average is $27.19 and its 200 day simple moving average is $25.81. United Fire Group, Inc. has a 12-month low of $18.04 and a 12-month high of $31.70.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (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%. Research analysts expect that United Fire Group, Inc. will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, March 7th. United Fire Group’s payout ratio is 26.89%.

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.