Vanguard Group Inc. Purchases 16,588 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Vanguard Group Inc. boosted its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,350,237 shares of the insurance provider’s stock after acquiring an additional 16,588 shares during the period. Vanguard Group Inc. owned 5.33% of United Fire Group worth $38,414,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of United Fire Group in the 4th quarter worth approximately $27,000. Globeflex Capital L P bought a new stake in United Fire Group in the fourth quarter worth $119,000. KLP Kapitalforvaltning AS purchased a new position in United Fire Group during the fourth quarter worth $131,000. Maryland State Retirement & Pension System bought a new position in United Fire Group during the fourth quarter valued at $203,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of United Fire Group in the third quarter valued at $211,000. Institutional investors own 62.68% of the company’s stock.

United Fire Group Trading Up 0.1 %

Shares of UFCS opened at $26.23 on Monday. The firm has a fifty day moving average price of $27.43 and a 200-day moving average price of $26.17. The firm has a market capitalization of $665.74 million, a P/E ratio of 11.02 and a beta of 0.33. United Fire Group, Inc. has a 12-month low of $18.04 and a 12-month high of $31.70.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share 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%. Analysts predict that United Fire Group, Inc. will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors 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 2.44%. United Fire Group’s dividend payout ratio (DPR) is currently 26.89%.

Insider Buying and Selling

In other United Fire Group news, major shareholder Dee Ann Mcintyre sold 2,500 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $27.31, for a total transaction of $68,275.00. Following the transaction, the insider now directly owns 446,863 shares in the company, valued at $12,203,828.53. This represents a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Noyce bought 2,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were acquired at an average cost of $26.97 per share, for a total transaction of $53,940.00. Following the transaction, the director now directly owns 27,316 shares in the company, valued at approximately $736,712.52. This trade represents a 7.90 % increase in their position. The disclosure for this purchase can be found here. 5.99% of the stock is owned by insiders.

Analysts Set New Price Targets

UFCS has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target on shares of United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. StockNews.com upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Jones Trading upgraded United Fire Group to a “strong-buy” rating and set a $32.00 price target on the stock in a report on Wednesday, March 5th.

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.