Earnest Partners LLC Has $35.16 Million Position in United Fire Group, Inc. (NASDAQ:UFCS)

Earnest Partners LLC trimmed its holdings in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,235,762 shares of the insurance provider's stock after selling 15,768 shares during the quarter. Earnest Partners LLC owned about 4.88% of United Fire Group worth $35,157,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of United Fire Group in the fourth quarter worth about $27,000. NewEdge Advisors LLC bought a new position in United Fire Group in the 4th quarter worth approximately $60,000. Aquatic Capital Management LLC lifted its holdings in United Fire Group by 716.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock worth $70,000 after buying an additional 2,149 shares in the last quarter. Globeflex Capital L P bought a new position in United Fire Group in the 4th quarter valued at $119,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of United Fire Group in the 4th quarter valued at $131,000. Institutional investors and hedge funds own 62.68% of the company's stock.

Insiders Place Their Bets

In related news, Director James Noyce bought 2,000 shares of the company's stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $26.97 per share, for a total transaction of $53,940.00. Following the acquisition, the director now 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $28.33, for a total transaction of $70,825.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Company insiders own 6.12% of the company's stock.

United Fire Group Price Performance

Shares of UFCS stock traded up $0.90 during trading hours on Friday, reaching $28.63. The company had a trading volume of 89,321 shares, compared to its average volume of 126,878. United Fire Group, Inc. has a 1-year low of $18.04 and a 1-year high of $31.70. The firm has a market cap of $727.00 million, a price-to-earnings ratio of 12.03 and a beta of 0.33. The company has a 50 day moving average of $27.90 and a 200 day moving average of $26.86.

United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, topping 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, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Friday, March 7th. United Fire Group's dividend payout ratio is currently 26.89%.

Analyst Ratings Changes

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

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.