LPL Financial LLC Has $508,000 Position in United Fire Group, Inc. (NASDAQ:UFCS)

LPL Financial LLC grew its holdings in United Fire Group, Inc. (NASDAQ:UFCS) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,870 shares of the insurance provider’s stock after buying an additional 3,045 shares during the quarter. LPL Financial LLC owned 0.07% of United Fire Group worth $508,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. KLP Kapitalforvaltning AS bought a new stake in United Fire Group in the fourth quarter valued at about $131,000. American Century Companies Inc. grew its stake 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 purchasing an additional 66,756 shares during the period. Maryland State Retirement & Pension System acquired a new position in shares of United Fire Group in the 4th quarter worth approximately $203,000. Globeflex Capital L P bought a new position in shares of United Fire Group during the 4th quarter worth approximately $119,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of United Fire Group by 11.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 133,434 shares of the insurance provider’s stock worth $3,796,000 after buying an additional 14,110 shares during the period. Institutional investors and hedge funds own 62.68% of the company’s stock.

Insider Buying and Selling at United Fire Group

In related news, Director James Noyce acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of $26.97 per share, with a total value of $53,940.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher R. Drahozal sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $28.33, for a total value of $70,825.00. Following the completion of the sale, the director now owns 441,863 shares of the company’s stock, valued at $12,517,978.79. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.99% of the company’s stock.

United Fire Group Stock Performance

Shares of UFCS opened at $27.99 on Friday. The company has a market cap of $710.75 million, a price-to-earnings ratio of 11.76 and a beta of 0.33. The stock has a fifty day moving average price of $27.71 and a two-hundred day moving average price of $26.52. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. As a group, research analysts predict that United Fire Group, Inc. will post 2.42 EPS for the current fiscal year.

United Fire Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.16 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 2.29%. United Fire Group’s dividend payout ratio is currently 26.89%.

Wall Street Analyst Weigh In

Several research firms have issued reports on UFCS. 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. StockNews.com upgraded 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 on the stock in a research 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.