Invesco Ltd. Decreases Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Invesco Ltd. lessened its position in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 180,072 shares of the insurance provider's stock after selling 31,086 shares during the period. Invesco Ltd. owned approximately 0.71% of United Fire Group worth $5,123,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of United Fire Group by 78.6% during the 4th quarter. JPMorgan Chase & Co. now owns 177,877 shares of the insurance provider's stock worth $5,061,000 after buying an additional 78,254 shares during the period. American Century Companies Inc. increased its stake in shares of United Fire Group by 87.6% during the fourth quarter. American Century Companies Inc. now owns 142,996 shares of the insurance provider's stock worth $4,068,000 after purchasing an additional 66,756 shares during the period. Trexquant Investment LP acquired a new stake in United Fire Group during the 4th quarter worth approximately $1,483,000. Raymond James Financial Inc. bought a new stake in United Fire Group in the 4th quarter valued at $980,000. Finally, Integrated Quantitative Investments LLC acquired a new position in United Fire Group in the 4th quarter valued at $947,000. 62.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at United Fire Group

In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $28.33, for a total value of $70,825.00. Following the completion of the transaction, the director now directly owns 441,863 shares of the company's stock, valued at $12,517,978.79. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Noyce acquired 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, with a total value of $53,940.00. Following the completion of the purchase, the director now directly owns 27,316 shares of the company's stock, valued at $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. Corporate insiders own 6.12% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on UFCS shares. StockNews.com raised shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Jones Trading upgraded shares of United Fire Group to a "strong-buy" rating and set a $32.00 target price on the stock in a research report on Wednesday, March 5th. Finally, Piper Sandler lifted their price target 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 Trading Down 0.1 %

United Fire Group stock traded down $0.02 during mid-day trading on Thursday, reaching $27.65. The company had a trading volume of 9,507 shares, compared to its average volume of 126,193. The business has a fifty day simple moving average of $27.83 and a 200 day simple moving average of $26.75. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $31.70. The company has a market cap of $702.09 million, a P/E ratio of 11.58 and a beta of 0.33.

United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. 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 declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Friday, March 7th. United Fire Group's payout ratio 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.