Raymond James Financial Inc. bought a new position in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 34,457 shares of the insurance provider's stock, valued at approximately $980,000. Raymond James Financial Inc. owned 0.14% of United Fire Group at the end of the most recent quarter.
Several other large investors have also made changes to their positions in UFCS. R Squared Ltd acquired a new stake in United Fire Group in the fourth quarter valued at approximately $27,000. Globeflex Capital L P bought a new stake in United Fire Group in the fourth quarter valued at $119,000. KLP Kapitalforvaltning AS bought a new stake in shares of United Fire Group during the fourth quarter worth about $131,000. Maryland State Retirement & Pension System bought a new stake in shares of United Fire Group during the fourth quarter worth about $203,000. Finally, Yousif Capital Management LLC bought a new stake in shares of United Fire Group during the fourth quarter worth about $231,000. Institutional investors and hedge funds own 62.68% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. StockNews.com cut shares of United Fire Group from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Piper Sandler increased their target price on shares of United Fire Group from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, Jones Trading upgraded shares of United Fire Group to a "strong-buy" rating and set a $32.00 price objective on the stock in a research report on Wednesday, March 5th.
Get Our Latest Analysis on United Fire Group
United Fire Group Stock Up 0.3%
United Fire Group stock traded up $0.09 during trading hours on Friday, hitting $27.95. The stock had a trading volume of 67,597 shares, compared to its average volume of 127,447. The stock has a market capitalization of $711.36 million, a P/E ratio of 11.74 and a beta of 0.49. United Fire Group, Inc. has a 12-month low of $18.04 and a 12-month high of $31.70. The stock's 50-day moving average price is $27.94 and its 200-day moving average price is $27.22.
United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. The firm had revenue of $308.41 million during the quarter, compared to analyst estimates of $336.18 million. On average, research analysts expect that United Fire Group, Inc. will post 2.42 EPS for the current fiscal year.
United Fire Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.16 per share. The ex-dividend date was Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 2.29%. United Fire Group's dividend payout ratio (DPR) is 25.30%.
Insider Activity at United Fire Group
In other United Fire Group news, major shareholder Dee Ann Mcintyre sold 2,500 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now directly owns 446,863 shares in the company, valued at $12,203,828.53. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Noyce bought 2,000 shares of the 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 acquisition, the director now directly owns 27,316 shares of the company's stock, valued at approximately $736,712.52. This represents a 7.90% increase in their position. The disclosure for this purchase can be found here. 6.12% of the stock is currently owned by company insiders.
About United Fire Group
(
Free Report)
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.
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