Connor Clark & Lunn Investment Management Ltd. Raises Stake in United Fire Group, Inc $UFCS

Connor Clark & Lunn Investment Management Ltd. increased its holdings in United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 13.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,760 shares of the insurance provider's stock after buying an additional 18,326 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.60% of United Fire Group worth $4,471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Federated Hermes Inc. raised its stake in United Fire Group by 131.3% in the 1st quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 633 shares during the last quarter. GAMMA Investing LLC raised its stake in United Fire Group by 270.2% in the 1st quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 970 shares during the last quarter. NewEdge Advisors LLC acquired a new position in United Fire Group in the 4th quarter valued at about $60,000. Aquatic Capital Management LLC raised its stake in United Fire Group by 716.3% in the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock valued at $70,000 after purchasing an additional 2,149 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in United Fire Group by 1,241.8% in the 1st quarter. Farther Finance Advisors LLC now owns 4,428 shares of the insurance provider's stock valued at $131,000 after purchasing an additional 4,098 shares during the last quarter. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

United Fire Group Trading Down 1.0%

Shares of NASDAQ UFCS traded down $0.31 on Monday, reaching $30.36. 35,944 shares of the company traded hands, compared to its average volume of 127,419. United Fire Group, Inc has a fifty-two week low of $19.19 and a fifty-two week high of $31.70. The company has a 50 day moving average of $28.09 and a 200 day moving average of $27.75. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $773.75 million, a PE ratio of 8.66 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.33. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. The company had revenue of $314.80 million during the quarter, compared to the consensus estimate of $337.99 million. On average, equities research analysts forecast that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.1%. United Fire Group's payout ratio is currently 18.23%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Jones Trading boosted their target price on shares of United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Wall Street Zen raised shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, Zacks Research raised shares of United Fire Group to a "strong-buy" rating in a research note on Friday, August 8th.

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.