United Fire Group, Inc $UFCS Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of United Fire Group, Inc (NASDAQ:UFCS) by 9.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 165,938 shares of the insurance provider’s stock after acquiring an additional 14,178 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.65% of United Fire Group worth $4,762,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. boosted its stake in United Fire Group by 131.3% during the 1st quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 633 shares during the period. NewEdge Advisors LLC raised its holdings in shares of United Fire Group by 17.7% during the first quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock valued at $74,000 after buying an additional 375 shares during the last quarter. CWM LLC boosted its position in shares of United Fire Group by 192.8% during the first quarter. CWM LLC now owns 5,236 shares of the insurance provider’s stock worth $154,000 after buying an additional 3,448 shares during the period. AlphaQuest LLC acquired a new position in shares of United Fire Group during the second quarter worth approximately $178,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in United Fire Group by 49.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,764 shares of the insurance provider’s stock worth $229,000 after buying an additional 2,574 shares in the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

Wall Street Analyst Weigh In

UFCS has been the topic of several recent analyst reports. Jones Trading lifted their target price on United Fire Group from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen cut shares of United Fire Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research lowered shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings upgraded shares of United Fire Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, United Fire Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

United Fire Group Trading Down 1.0%

Shares of UFCS stock opened at $36.65 on Friday. The stock has a 50-day simple moving average of $31.63 and a 200 day simple moving average of $29.61. The stock has a market capitalization of $935.09 million, a P/E ratio of 10.44 and a beta of 0.49. United Fire Group, Inc has a fifty-two week low of $24.11 and a fifty-two week high of $37.33. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.14.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.81. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. The company had revenue of $354.02 million during the quarter, compared to the consensus estimate of $354.46 million. On average, sell-side analysts expect that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other United Fire Group news, Director John Paul E. Besong sold 2,450 shares of United Fire Group stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $32.26, for a total value of $79,037.00. Following the transaction, the director owned 24,494 shares in the company, valued at approximately $790,176.44. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.12% 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.