Northern Trust Corp Has $6.26 Million Stake in United Fire Group, Inc. (NASDAQ:UFCS)

Northern Trust Corp boosted its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,022 shares of the insurance provider’s stock after acquiring an additional 2,648 shares during the quarter. Northern Trust Corp owned 0.87% of United Fire Group worth $6,260,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in UFCS. JPMorgan Chase & Co. lifted its stake in United Fire Group by 27.3% in the third quarter. JPMorgan Chase & Co. now owns 99,623 shares of the insurance provider’s stock valued at $2,085,000 after buying an additional 21,352 shares during the period. Exchange Traded Concepts LLC boosted its stake in United Fire Group by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 37,296 shares of the insurance provider’s stock worth $1,061,000 after purchasing an additional 945 shares during the period. R Squared Ltd bought a new stake in shares of United Fire Group during the 4th quarter valued at about $27,000. Yousif Capital Management LLC purchased a new position in United Fire Group in the 4th quarter worth approximately $231,000. Finally, Lion Street Advisors LLC purchased a new position in shares of United Fire Group during the fourth quarter valued at approximately $266,000. Institutional investors own 62.68% of the company’s stock.

United Fire Group Stock Down 0.8%

Shares of United Fire Group stock opened at $28.40 on Tuesday. The firm has a market cap of $722.81 million, a PE ratio of 11.93 and a beta of 0.49. The business has a 50-day moving average price of $27.97 and a 200 day moving average price of $27.57. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $31.70.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $308.41 million for the quarter, compared to analysts’ expectations of $336.18 million. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. On average, sell-side analysts expect that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 2.25%. United Fire Group’s payout ratio is currently 25.30%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Piper Sandler boosted their target price on United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. StockNews.com raised United Fire Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 15th. Finally, Jones Trading reiterated a “buy” rating and issued a $32.00 price target on shares of United Fire Group in a report on Monday, May 12th.

Insider Activity

In other United Fire Group news, major shareholder Dee Ann Mcintyre sold 2,500 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $27.31, for a total value of $68,275.00. Following the completion of the transaction, the insider now directly owns 446,863 shares in the company, valued at approximately $12,203,828.53. The trade was a 0.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.12% of the company’s stock.

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.