Royce & Associates LP Takes $2.13 Million Position in United Fire Group, Inc $UFCS

Royce & Associates LP acquired a new position in shares of United Fire Group, Inc (NASDAQ:UFCS) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 70,136 shares of the insurance provider’s stock, valued at approximately $2,134,000.

Other hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH acquired a new position in United Fire Group during the third quarter worth approximately $5,940,000. Ellsworth Advisors LLC acquired a new position in shares of United Fire Group in the 3rd quarter valued at $777,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of United Fire Group during the 2nd quarter valued at $371,000. Inspire Investing LLC acquired a new stake in shares of United Fire Group during the 3rd quarter worth $998,000. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of United Fire Group by 16.0% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 227,268 shares of the insurance provider’s stock worth $6,913,000 after buying an additional 31,400 shares during the last quarter. 62.68% of the stock is owned by institutional investors and hedge funds.

United Fire Group Price Performance

UFCS stock opened at $37.77 on Friday. The firm has a market cap of $963.89 million, a P/E ratio of 8.43 and a beta of 0.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.33 and a current ratio of 0.33. United Fire Group, Inc has a 1 year low of $25.01 and a 1 year high of $40.63. The stock has a 50-day simple moving average of $36.83 and a 200-day simple moving average of $34.39.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Wednesday, February 11th. The insurance provider reported $1.50 EPS for the quarter, topping the consensus estimate of $0.90 by $0.60. The firm had revenue of $365.81 million for the quarter, compared to analyst estimates of $332.34 million. United Fire Group had a return on equity of 13.84% and a net margin of 8.52%. On average, equities analysts predict that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

United Fire Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This is an increase from United Fire Group’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. United Fire Group’s dividend payout ratio is presently 17.86%.

Insider Buying and Selling at United Fire Group

In related news, major shareholder Dee Ann Mcintyre sold 4,250 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $38.84, for a total transaction of $165,070.00. Following the completion of the sale, the insider directly owned 437,613 shares of the company’s stock, valued at approximately $16,996,888.92. This trade represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher R. Drahozal sold 4,250 shares of United Fire Group stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $38.49, for a total transaction of $163,582.50. Following the sale, the director directly owned 429,113 shares in the company, valued at $16,516,559.37. This trade represents a 0.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,750 shares of company stock valued at $493,723 over the last 90 days. Insiders own 6.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on UFCS shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of United Fire Group in a report on Monday, December 29th. Piper Sandler upped their price target on United Fire Group from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Wall Street Zen upgraded United Fire Group from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Zacks Research cut United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, JonesTrading increased their target price on shares of United Fire Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

About United Fire Group

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.