4,191 Shares in United Fire Group, Inc. (NASDAQ:UFCS) Acquired by Globeflex Capital L P

Globeflex Capital L P acquired a new position in United Fire Group, Inc. (NASDAQ:UFCS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,191 shares of the insurance provider’s stock, valued at approximately $119,000.

Several other hedge funds also recently added to or reduced their stakes in UFCS. Hotchkis & Wiley Capital Management LLC purchased a new position in United Fire Group in the third quarter worth approximately $2,740,000. Foundry Partners LLC grew its position in United Fire Group by 71.9% in the third quarter. Foundry Partners LLC now owns 178,155 shares of the insurance provider’s stock worth $3,729,000 after acquiring an additional 74,540 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of United Fire Group by 126.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,324 shares of the insurance provider’s stock worth $2,497,000 after buying an additional 66,676 shares during the period. Systematic Financial Management LP boosted its position 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 buying an additional 48,049 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of United Fire Group during the fourth quarter worth $980,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

United Fire Group Trading Up 3.4 %

Shares of NASDAQ UFCS opened at $29.13 on Friday. The stock has a market cap of $739.35 million, a P/E ratio of 12.24 and a beta of 0.45. United Fire Group, Inc. has a 12-month low of $18.04 and a 12-month high of $31.70. The business’s fifty day simple moving average is $26.47 and its 200-day simple moving average is $25.00.

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 the consensus estimate of $0.61 by $0.64. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. On average, equities analysts forecast that United Fire Group, Inc. will post 2.42 EPS for the current fiscal year.

United Fire Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, March 7th. United Fire Group’s dividend payout ratio is presently 26.89%.

Insider Buying and Selling at United Fire Group

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $29.60, for a total value of $78,854.40. Following the sale, the vice president now directly owns 12,523 shares in the company, valued at $370,680.80. This trade represents a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Noyce purchased 2,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $26.97 per share, for a total transaction of $53,940.00. Following the completion of the purchase, the director now owns 27,316 shares of the company’s stock, valued at $736,712.52. This represents a 7.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 7,664 shares of company stock worth $217,954 over the last ninety days. Corporate insiders own 5.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on UFCS shares. Piper Sandler raised their price target 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 price objective on the stock in a research note on Wednesday, March 5th.

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.