23,079 Shares in United Fire Group, Inc $UFCS Bought by VCI Wealth Management LLC

Key Points

• VCI Wealth Management acquired 23,079 United Fire Group shares worth approximately $1.21 million, giving it a 0.09% stake. Institutional investors and hedge funds collectively own 62.68% of UFCS.
• Analyst sentiment remains positive: UFCS carries a consensus “Strong Buy” rating and an average price target of $52.50, while Piper Sandler raised its target to $60.
• United Fire Group reported quarterly earnings of $1.30 per share, exceeding the $0.69 estimate, and revenue of $383.73 million. The company also declared a $0.20 quarterly dividend, equivalent to a 1.4% annual yield.

VCI Wealth Management LLC acquired a new position in shares of United Fire Group, Inc (NASDAQ:UFCS - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 23,079 shares of the insurance provider's stock, valued at approximately $1,214,000. VCI Wealth Management LLC owned 0.09% of United Fire Group as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in UFCS. Allworth Financial LP purchased a new position in shares of United Fire Group in the 2nd quarter valued at $34,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of United Fire Group in the second quarter worth about $66,000. Integrated Wealth Concepts LLC purchased a new stake in shares of United Fire Group in the second quarter worth about $69,000. USA Financial Formulas acquired a new stake in shares of United Fire Group in the third quarter valued at about $73,000. Finally, IFP Advisors Inc grew its stake in shares of United Fire Group by 25.1% in the second quarter. IFP Advisors Inc now owns 1,400 shares of the insurance provider's stock valued at $73,000 after buying an additional 281 shares in the last quarter. Institutional investors and hedge funds own 62.68% of the company's stock.

Insider Buying and Selling

In related news, Director Scott Carlton sold 9,777 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $55.52, for a total value of $542,819.04. Following the completion of the transaction, the director owned 200,552 shares of the company's stock, valued at approximately $11,134,647.04. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 6.06% of the company's stock.

Analysts Set New Price Targets

UFCS has been the topic of several analyst reports. Wall Street Zen downgraded United Fire Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 2nd. Zacks Research upgraded United Fire Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 17th. Piper Sandler upped their price target on United Fire Group from $57.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of United Fire Group from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, United Fire Group has a consensus rating of "Strong Buy" and an average price target of $52.50.

United Fire Group Stock Performance

United Fire Group stock opened at $57.08 on Tuesday. United Fire Group, Inc has a 12-month low of $29.92 and a 12-month high of $58.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 10.31 and a beta of 0.47. The firm's fifty day moving average price is $55.10 and its 200 day moving average price is $46.67.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The insurance provider reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.61. The company had revenue of $383.73 million during the quarter, compared to analysts' expectations of $347.76 million. United Fire Group had a net margin of 9.57% and a return on equity of 15.19%. On average, research analysts forecast that United Fire Group, Inc will post 4.97 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. United Fire Group's dividend payout ratio is currently 14.87%.

United Fire Group Company Profile

United Fire Group, Inc NASDAQ: UFCS is an insurance holding company headquartered in Cedar Rapids, Iowa. Through its insurance subsidiaries, the company provides property and casualty insurance products to businesses, individuals, and organizations, primarily through a network of independent insurance agents.

Its product portfolio includes commercial property and liability coverage, commercial automobile insurance, workers' compensation, surety bonds, and specialty insurance products.

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