United Fire Group, Inc. (NASDAQ:UFCS) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,350,237 shares of the insurance provider's stock after purchasing an additional 16,588 shares during the period. Vanguard Group Inc. owned approximately 5.33% of United Fire Group worth $38,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. R Squared Ltd bought a new stake in shares of United Fire Group during the 4th quarter worth approximately $27,000. Globeflex Capital L P purchased a new stake in United Fire Group in the fourth quarter worth $119,000. KLP Kapitalforvaltning AS bought a new stake in shares of United Fire Group during the fourth quarter worth $131,000. Maryland State Retirement & Pension System purchased a new stake in shares of United Fire Group during the fourth quarter valued at $203,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of United Fire Group in the third quarter worth about $211,000. Hedge funds and other institutional investors own 62.68% of the company's stock.

Insiders Place Their Bets

In other news, Director James Noyce bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of $26.97 per share, with a total value of $53,940.00. Following the completion of the transaction, the director now directly owns 27,316 shares of the company's stock, valued at approximately $736,712.52. The trade was a 7.90 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher R. Drahozal sold 2,500 shares of the firm's 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 sale, the director now owns 441,863 shares of the company's stock, valued at approximately $12,517,978.79. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UFCS. Jones Trading upgraded shares of United Fire Group to a "strong-buy" rating and set a $32.00 price objective for the company in a report on Wednesday, March 5th. StockNews.com upgraded United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Finally, Piper Sandler increased their price objective on United Fire Group from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th.

United Fire Group Stock Up 0.3 %

NASDAQ:UFCS traded up $0.08 during mid-day trading on Friday, reaching $27.20. The company's stock had a trading volume of 70,026 shares, compared to its average volume of 125,868. The firm has a market capitalization of $690.69 million, a PE ratio of 11.43 and a beta of 0.33. The stock has a fifty day moving average of $27.58 and a 200-day moving average of $26.27. United Fire Group, Inc. has a 1 year low of $18.04 and a 1 year high of $31.70.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that United Fire Group, Inc. will post 2.42 earnings per share for the current year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 2.35%. United Fire Group's dividend payout ratio (DPR) is presently 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.