Corton Capital Inc. Takes Position in United Fire Group, Inc. (NASDAQ:UFCS)

Corton Capital Inc. purchased a new stake in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,711 shares of the insurance provider's stock, valued at approximately $276,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC grew its stake in shares of United Fire Group by 10.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 62,548 shares of the insurance provider's stock worth $1,780,000 after purchasing an additional 5,890 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in shares of United Fire Group by 2.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 127,764 shares of the insurance provider's stock worth $3,635,000 after purchasing an additional 3,594 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of United Fire Group by 48.5% during the 4th quarter. BNP Paribas Financial Markets now owns 12,622 shares of the insurance provider's stock valued at $359,000 after acquiring an additional 4,124 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in United Fire Group in the 4th quarter valued at approximately $217,000. Finally, Northern Trust Corp grew its holdings in United Fire Group by 1.2% in the 4th quarter. Northern Trust Corp now owns 220,022 shares of the insurance provider's stock valued at $6,260,000 after buying an additional 2,648 shares during the last quarter. 62.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other United Fire Group news, Director James Noyce bought 2,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price 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. The trade was a 7.90% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Dee Ann Mcintyre sold 2,500 shares of United Fire Group stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $27.31, for a total transaction of $68,275.00. Following the transaction, the insider now directly owns 446,863 shares in the company, valued at approximately $12,203,828.53. This represents a 0.56% decrease in their position. The disclosure for this sale can be found here. 6.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on UFCS. StockNews.com downgraded United Fire Group from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 7th. Jones Trading raised United Fire Group to a "strong-buy" rating and set a $32.00 target price for the company in a research note on Wednesday, March 5th. Finally, Piper Sandler boosted their price target on 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 Down 0.9%

NASDAQ:UFCS traded down $0.27 on Monday, hitting $27.67. The company's stock had a trading volume of 22,284 shares, compared to its average volume of 129,874. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $31.70. The stock has a fifty day moving average of $27.94 and a two-hundred day moving average of $27.22. The firm has a market capitalization of $704.10 million, a P/E ratio of 11.62 and a beta of 0.49.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its earnings results on Tuesday, May 6th. The insurance provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. The firm had revenue of $308.41 million during the quarter, compared to analysts' expectations of $336.18 million. As a group, sell-side analysts anticipate that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The business 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. This represents a $0.64 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, March 7th. United Fire Group's dividend payout ratio is currently 25.30%.

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.