United Fire Group, Inc. (NASDAQ:UFCS) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP grew its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 13.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 552,194 shares of the insurance provider's stock after buying an additional 66,561 shares during the period. Systematic Financial Management LP owned approximately 2.18% of United Fire Group worth $15,710,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of United Fire Group by 27.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,623 shares of the insurance provider's stock worth $2,085,000 after buying an additional 21,352 shares during the last quarter. Barclays PLC lifted its position in shares of United Fire Group by 122.4% during the 4th quarter. Barclays PLC now owns 98,712 shares of the insurance provider's stock valued at $2,809,000 after buying an additional 54,332 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of United Fire Group by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider's stock worth $39,981,000 after purchasing an additional 55,616 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of United Fire Group during the fourth quarter worth $223,000. Finally, Principal Financial Group Inc. grew its holdings in United Fire Group by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 103,210 shares of the insurance provider's stock valued at $2,936,000 after buying an additional 2,940 shares in the last quarter. Institutional investors own 62.68% of the company's stock.

Analysts Set New Price Targets

UFCS has been the subject of several research analyst reports. Piper Sandler lifted their target price 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. Jones Trading restated a "buy" rating and set a $32.00 price target on shares of United Fire Group in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th.

Insider Activity at United Fire Group

In other United Fire Group news, major shareholder Dee Ann Mcintyre sold 2,500 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $27.31, for a total value of $68,275.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.12% of the stock is owned by insiders.

United Fire Group Stock Performance

Shares of UFCS stock traded up $0.19 during trading hours on Friday, reaching $27.77. The company had a trading volume of 22,433 shares, compared to its average volume of 127,316. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $31.70. The business has a fifty day moving average price of $27.92 and a 200-day moving average price of $27.64. The firm has a market cap of $706.77 million, a PE ratio of 11.65 and a beta of 0.49.

United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $308.41 million during the quarter, compared to analyst estimates of $336.18 million. Equities research analysts forecast that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.16 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.30%. United Fire Group's dividend payout ratio (DPR) is presently 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.