Hsbc Holdings PLC Has $591,000 Stock Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Hsbc Holdings PLC lowered its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,793 shares of the insurance provider’s stock after selling 2,059 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of United Fire Group worth $591,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of United Fire Group by 147.8% in the third quarter. Barclays PLC now owns 44,380 shares of the insurance provider’s stock valued at $928,000 after acquiring an additional 26,469 shares during the last quarter. JPMorgan Chase & Co. raised its position in United Fire Group by 27.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,623 shares of the insurance provider’s stock valued at $2,085,000 after purchasing an additional 21,352 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in United Fire Group by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider’s stock worth $39,981,000 after purchasing an additional 55,616 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of United Fire Group by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 103,210 shares of the insurance provider’s stock worth $2,936,000 after purchasing an additional 2,940 shares during the last quarter. Finally, Yousif Capital Management LLC bought a new stake in shares of United Fire Group during the fourth quarter worth $231,000. 62.68% of the stock is owned by institutional investors.

United Fire Group Trading Up 1.0 %

Shares of NASDAQ:UFCS opened at $28.60 on Wednesday. United Fire Group, Inc. has a 1-year low of $18.04 and a 1-year high of $31.70. The stock has a market capitalization of $726.24 million, a P/E ratio of 12.02 and a beta of 0.49. The business has a 50-day moving average price of $27.95 and a two-hundred day moving average price of $27.01.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $308.41 million during the quarter, compared to the consensus estimate of $336.18 million. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. As a group, equities analysts predict that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.24%. The ex-dividend date was Friday, March 7th. United Fire Group’s payout ratio is 26.89%.

Insiders Place Their Bets

In other news, Director James Noyce purchased 2,000 shares of United Fire Group stock in a transaction dated Friday, February 14th. The shares were bought at an average cost of $26.97 per share, with a total value of $53,940.00. Following the completion of the transaction, the director now directly owns 27,316 shares in the company, valued at $736,712.52. This trade represents a 7.90 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher R. Drahozal sold 2,500 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $28.33, for a total transaction of $70,825.00. Following the completion of the sale, the director now owns 441,863 shares of the company’s stock, valued at approximately $12,517,978.79. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on UFCS. Piper Sandler upped 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 report on Thursday, February 13th. Jones Trading upgraded shares of United Fire Group to a “strong-buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, March 5th. Finally, StockNews.com raised shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th.

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.