Barclays PLC Acquires 26,469 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Barclays PLC increased its holdings in United Fire Group, Inc. (NASDAQ:UFCS) by 147.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,380 shares of the insurance provider’s stock after purchasing an additional 26,469 shares during the quarter. Barclays PLC’s holdings in United Fire Group were worth $928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of UFCS. Geode Capital Management LLC grew its position in shares of United Fire Group by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider’s stock valued at $10,514,000 after buying an additional 2,925 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of United Fire Group in the third quarter worth approximately $211,000. State Street Corp lifted its stake in shares of United Fire Group by 2.2% in the third quarter. State Street Corp now owns 821,566 shares of the insurance provider’s stock worth $17,195,000 after acquiring an additional 17,415 shares during the period. Systematic Financial Management LP boosted its holdings in United Fire Group by 11.0% in the third quarter. Systematic Financial Management LP now owns 485,633 shares of the insurance provider’s stock valued at $10,164,000 after acquiring an additional 48,049 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in United Fire Group by 576.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 4,611 shares during the period. 62.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Corey Lynn Ruehle sold 2,664 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the transaction, the vice president now owns 12,523 shares of the company’s stock, valued at $370,680.80. This represents a 17.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.99% of the company’s stock.

United Fire Group Price Performance

Shares of United Fire Group stock opened at $25.90 on Wednesday. The stock’s 50-day moving average is $28.49 and its 200 day moving average is $23.30. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $31.70. The firm has a market cap of $656.36 million, a price-to-earnings ratio of 13.35 and a beta of 0.54.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.60. The firm had revenue of $322.96 million for the quarter, compared to analysts’ expectations of $306.80 million. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. During the same period in the prior year, the business earned $0.31 EPS. On average, sell-side analysts expect that United Fire Group, Inc. will post 1.84 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Friday, November 29th. United Fire Group’s dividend payout ratio is presently 32.99%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler upgraded shares of United Fire Group from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $19.00 to $26.00 in a research report on Monday, November 18th. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, October 4th.

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.