United Fire Group, Inc. (NASDAQ:UFCS) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 500,617 shares of the insurance provider’s stock after selling 1,615 shares during the period. Geode Capital Management LLC owned approximately 1.98% of United Fire Group worth $14,245,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in 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. lifted its position in shares of United Fire Group by 87.6% in the 4th quarter. American Century Companies Inc. now owns 142,996 shares of the insurance provider’s stock valued at $4,068,000 after acquiring an additional 66,756 shares in the last quarter. Raymond James Financial Inc. acquired a new position in United Fire Group in the 4th quarter worth approximately $980,000. Arrowstreet Capital Limited Partnership raised its stake in United Fire Group by 30.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 118,291 shares of the insurance provider’s stock valued at $3,365,000 after purchasing an additional 27,748 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of United Fire Group in the third quarter valued at $575,000. 62.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at United Fire Group

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

United Fire Group Trading Up 0.3 %

Shares of NASDAQ:UFCS opened at $27.20 on Monday. The firm has a market cap of $690.69 million, a price-to-earnings ratio of 11.43 and a beta of 0.33. United Fire Group, Inc. has a 1 year low of $18.04 and a 1 year high of $31.70. The business has a fifty day simple moving average of $27.62 and a 200 day simple moving average of $26.40.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. On average, sell-side analysts forecast that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Friday, March 7th. United Fire Group’s dividend payout ratio is 26.89%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on UFCS. Piper Sandler lifted their price target on United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. 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. Finally, Jones Trading upgraded shares of United Fire Group to a “strong-buy” rating and set a $32.00 price target for the company in a report on Wednesday, March 5th.

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.