Zurcher Kantonalbank Zurich Cantonalbank Increases Position in United Fire Group, Inc. (NASDAQ:UFCS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in United Fire Group, Inc. (NASDAQ:UFCS) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,190 shares of the insurance provider’s stock after purchasing an additional 957 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United Fire Group were worth $104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of UFCS. Quantbot Technologies LP bought a new stake in shares of United Fire Group in the third quarter worth $67,000. Pecaut & CO. bought a new stake in shares of United Fire Group in the 3rd quarter worth about $201,000. Louisiana State Employees Retirement System acquired a new stake in shares of United Fire Group in the 4th quarter valued at about $213,000. Everence Capital Management Inc. bought a new position in shares of United Fire Group during the fourth quarter worth about $234,000. Finally, SG Americas Securities LLC bought a new stake in United Fire Group in the third quarter valued at about $242,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Christopher R. Drahozal sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $22.15, for a total transaction of $55,375.00. Following the completion of the transaction, the director now directly owns 454,363 shares in the company, valued at $10,064,140.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other United Fire Group news, VP Micah G. Woolstenhulme bought 1,500 shares of United Fire Group stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $21.76 per share, for a total transaction of $32,640.00. Following the completion of the acquisition, the vice president now owns 32,763 shares of the company’s stock, valued at approximately $712,922.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher R. Drahozal sold 2,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.15, for a total value of $55,375.00. Following the completion of the transaction, the director now directly owns 454,363 shares in the company, valued at approximately $10,064,140.45. The disclosure for this sale can be found here. 5.99% of the stock is owned by insiders.

Analyst Ratings Changes

UFCS has been the subject of several research reports. Piper Sandler reiterated an “underweight” rating and issued a $21.00 target price on shares of United Fire Group in a research report on Monday, April 1st. StockNews.com cut shares of United Fire Group from a “buy” rating to a “hold” rating in a report on Wednesday.

United Fire Group Stock Down 0.6 %

Shares of UFCS stock opened at $23.46 on Friday. The business has a 50 day moving average of $22.20 and a two-hundred day moving average of $21.59. The company has a market cap of $593.07 million, a P/E ratio of -19.88 and a beta of 0.34. United Fire Group, Inc. has a 52 week low of $18.41 and a 52 week high of $25.55.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, February 13th. The insurance provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $287.32 million during the quarter, compared to the consensus estimate of $278.70 million. United Fire Group had a negative return on equity of 4.38% and a negative net margin of 2.71%. Analysts expect that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, March 7th. United Fire Group’s payout ratio is -54.24%.

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.