Everence Capital Management Inc. Acquires Shares of 11,630 United Fire Group, Inc. (NASDAQ:UFCS)

Everence Capital Management Inc. purchased a new position in United Fire Group, Inc. (NASDAQ:UFCS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,630 shares of the insurance provider’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Louisiana State Employees Retirement System bought a new position in shares of United Fire Group in the fourth quarter worth about $213,000. SG Americas Securities LLC grew its holdings in shares of United Fire Group by 6.7% in the fourth quarter. SG Americas Securities LLC now owns 13,054 shares of the insurance provider’s stock worth $263,000 after purchasing an additional 825 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of United Fire Group by 37.3% in the third quarter. Public Employees Retirement System of Ohio now owns 12,937 shares of the insurance provider’s stock worth $256,000 after purchasing an additional 3,514 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of United Fire Group by 16.2% in the third quarter. Deutsche Bank AG now owns 11,333 shares of the insurance provider’s stock worth $224,000 after purchasing an additional 1,577 shares during the last quarter. Finally, Comerica Bank bought a new position in shares of United Fire Group in the third quarter worth about $193,000. 62.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UFCS has been the topic of several recent research reports. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 14th. Piper Sandler reiterated an “underweight” rating and set a $21.00 target price on shares of United Fire Group in a report on Monday, April 1st.

United Fire Group Trading Up 3.5 %

Shares of United Fire Group stock opened at $22.80 on Friday. United Fire Group, Inc. has a 1 year low of $18.41 and a 1 year high of $27.72. The firm’s 50-day moving average is $22.46 and its two-hundred day moving average is $21.31.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, February 13th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.12. United Fire Group had a negative net margin of 2.71% and a negative return on equity of 4.38%. The company had revenue of $287.32 million for the quarter, compared to analysts’ expectations of $278.70 million. Equities analysts expect that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, March 7th. United Fire Group’s payout ratio is -54.24%.

Insider Buying and Selling at United Fire Group

In other news, VP Micah G. Woolstenhulme purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average cost of $21.76 per share, with a total value of $32,640.00. Following the completion of the transaction, the vice president now owns 32,763 shares in the company, valued at approximately $712,922.88. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.15, for a total transaction of $55,375.00. Following the completion of the sale, the director now directly owns 454,363 shares of the company’s stock, valued at $10,064,140.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Micah G. Woolstenhulme acquired 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average cost of $21.76 per share, with a total value of $32,640.00. Following the completion of the transaction, the vice president now directly owns 32,763 shares in the company, valued at $712,922.88. The disclosure for this purchase can be found here. Insiders own 5.99% of the company’s stock.

About United Fire Group

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.