Allspring Global Investments Holdings LLC Trims Stake in United Fire Group, Inc. (NASDAQ:UFCS)

Allspring Global Investments Holdings LLC reduced its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS – Get Rating) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,960 shares of the insurance provider’s stock after selling 9,362 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.89% of United Fire Group worth $6,434,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UFCS. Advisor Group Holdings Inc. raised its position in United Fire Group by 9.2% during the first quarter. Advisor Group Holdings Inc. now owns 7,240 shares of the insurance provider’s stock valued at $225,000 after acquiring an additional 608 shares in the last quarter. Citigroup Inc. raised its position in United Fire Group by 10.4% during the first quarter. Citigroup Inc. now owns 23,023 shares of the insurance provider’s stock valued at $716,000 after acquiring an additional 2,177 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in United Fire Group by 51.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,838 shares of the insurance provider’s stock valued at $119,000 after purchasing an additional 1,302 shares during the period. Bank of Montreal Can acquired a new stake in United Fire Group in the first quarter valued at approximately $225,000. Finally, MetLife Investment Management LLC grew its holdings in United Fire Group by 46.4% in the first quarter. MetLife Investment Management LLC now owns 10,952 shares of the insurance provider’s stock valued at $340,000 after purchasing an additional 3,473 shares during the period. 64.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UFCS has been the topic of several research analyst reports. StockNews.com initiated coverage on United Fire Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler raised their price objective on United Fire Group from $29.00 to $30.00 in a report on Tuesday, January 10th.

United Fire Group Price Performance

Shares of NASDAQ:UFCS opened at $30.08 on Monday. The business’s 50 day moving average price is $28.50 and its 200-day moving average price is $29.94. The firm has a market capitalization of $757.93 million, a PE ratio of 14.53 and a beta of 0.08. United Fire Group, Inc. has a 1 year low of $22.96 and a 1 year high of $37.26.

United Fire Group (NASDAQ:UFCS – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The insurance provider reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.01. The firm had revenue of $235.57 million for the quarter, compared to analyst estimates of $234.40 million. United Fire Group had a return on equity of 8.22% and a net margin of 5.41%. As a group, analysts expect that United Fire Group, Inc. will post 1.27 earnings per share for the current year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Thursday, December 1st. United Fire Group’s dividend payout ratio (DPR) is currently 30.92%.

Insiders Place Their Bets

In related news, Director Mark A. Green acquired 1,800 shares of the stock in a transaction on Monday, November 7th. The shares were bought at an average price of $28.31 per share, with a total value of $50,958.00. Following the completion of the purchase, the director now owns 4,205 shares of the company’s stock, valued at approximately $119,043.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.71% of the stock is currently owned by corporate insiders.

United Fire Group Profile

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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 commercial multiple peril and inland marine insurance, as well as assumed reinsurance products.