Barclays PLC Increases Stock Position in United Fire Group, Inc. (NASDAQ:UFCS)

Barclays PLC increased its position in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 122.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 98,712 shares of the insurance provider's stock after purchasing an additional 54,332 shares during the period. Barclays PLC owned 0.39% of United Fire Group worth $2,809,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in UFCS. Raymond James Financial Inc. purchased a new stake in United Fire Group in the fourth quarter valued at approximately $980,000. Martingale Asset Management L P boosted its stake in United Fire Group by 8.7% during the 4th quarter. Martingale Asset Management L P now owns 47,926 shares of the insurance provider's stock worth $1,363,000 after purchasing an additional 3,836 shares during the period. Legal & General Group Plc grew its position in United Fire Group by 3.1% during the 4th quarter. Legal & General Group Plc now owns 55,882 shares of the insurance provider's stock worth $1,590,000 after purchasing an additional 1,676 shares during the last quarter. Integrated Quantitative Investments LLC acquired a new position in United Fire Group in the fourth quarter valued at $947,000. Finally, Trexquant Investment LP purchased a new stake in shares of United Fire Group in the fourth quarter valued at about $1,483,000. 62.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction dated 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 sale, the director now owns 441,863 shares in the company, valued at $12,517,978.79. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James Noyce acquired 2,000 shares of the business's stock in a transaction dated 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 completion of the acquisition, the director now owns 27,316 shares in the company, valued at approximately $736,712.52. This trade represents a 7.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UFCS. StockNews.com raised United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Jones Trading raised shares of United Fire Group to a "strong-buy" rating and set a $32.00 target price on the stock in a report on Wednesday, March 5th. Finally, Piper Sandler raised their price objective on shares of United Fire Group from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th.

United Fire Group Stock Performance

UFCS traded down $0.41 on Monday, hitting $28.22. 4,687 shares of the company were exchanged, compared to its average volume of 126,641. The business's fifty day moving average is $27.90 and its 200 day moving average is $26.95. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $31.70. The firm has a market capitalization of $716.57 million, a P/E ratio of 11.89 and a beta of 0.33.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, beating the consensus estimate of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. Analysts forecast that United Fire Group, Inc. will post 2.42 EPS for the current fiscal year.

United Fire Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.16 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 2.27%. United Fire Group's dividend payout ratio (DPR) is 26.89%.

United Fire Group 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.