WINTON GROUP Ltd Lowers Stake in United Fire Group, Inc. (NASDAQ:UFCS)

WINTON GROUP Ltd cut its position in United Fire Group, Inc. (NASDAQ:UFCS) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,609 shares of the insurance provider’s stock after selling 5,202 shares during the period. WINTON GROUP Ltd owned about 0.18% of United Fire Group worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its holdings in United Fire Group by 147.8% in the 3rd quarter. Barclays PLC now owns 44,380 shares of the insurance provider’s stock worth $928,000 after buying an additional 26,469 shares during the period. State Street Corp lifted its position in shares of United Fire Group by 2.2% in the third quarter. State Street Corp now owns 821,566 shares of the insurance provider’s stock valued at $17,195,000 after acquiring an additional 17,415 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of United Fire Group by 27.3% in the third quarter. JPMorgan Chase & Co. now owns 99,623 shares of the insurance provider’s stock worth $2,085,000 after acquiring an additional 21,352 shares during the period. Geode Capital Management LLC grew its position in shares of 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 worth $10,514,000 after purchasing an additional 2,925 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in United Fire Group during the 3rd quarter valued at approximately $256,000. 62.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on UFCS shares. StockNews.com upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Jones Trading upgraded shares of United Fire Group to a “strong-buy” rating and set a $32.00 target price for the company in a research report on Wednesday, March 5th. Finally, Piper Sandler lifted their price target on shares of United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, February 13th.

United Fire Group Trading Up 1.0 %

Shares of United Fire Group stock opened at $29.72 on Friday. The firm has a market cap of $754.32 million, a PE ratio of 12.49 and a beta of 0.45. The stock has a 50 day moving average of $26.93 and a 200 day moving average of $25.51. 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 posted 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%. As a group, equities research analysts forecast that United Fire Group, Inc. will post 2.42 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.16 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.15%. United Fire Group’s payout ratio is currently 26.89%.

Insider Transactions at United Fire Group

In other news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $28.33, for a total value of $70,825.00. Following the completion of the transaction, the director now owns 441,863 shares in the company, valued at approximately $12,517,978.79. The trade was a 0.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Noyce bought 2,000 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were bought at an average cost of $26.97 per share, for a total transaction of $53,940.00. Following the transaction, 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.

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.