Foundry Partners LLC Grows Position in United Fire Group, Inc. (NASDAQ:UFCS)

Foundry Partners LLC raised its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 8.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 158,661 shares of the insurance provider’s stock after acquiring an additional 12,815 shares during the quarter. Foundry Partners LLC’s holdings in United Fire Group were worth $3,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in UFCS. SG Americas Securities LLC purchased a new stake in United Fire Group during the third quarter valued at about $242,000. Exchange Traded Concepts LLC purchased a new stake in United Fire Group during the third quarter valued at about $569,000. Assenagon Asset Management S.A. lifted its holdings in United Fire Group by 134.3% during the third quarter. Assenagon Asset Management S.A. now owns 143,123 shares of the insurance provider’s stock valued at $2,827,000 after purchasing an additional 82,037 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of United Fire Group in the third quarter worth about $252,000. Finally, Barclays PLC lifted its holdings in shares of United Fire Group by 8.3% in the third quarter. Barclays PLC now owns 14,478 shares of the insurance provider’s stock worth $287,000 after buying an additional 1,112 shares in the last quarter. 62.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at United Fire Group

In related news, VP Micah G. Woolstenhulme bought 1,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average cost of $21.76 per share, with a total value of $32,640.00. Following the completion of the purchase, the vice president now directly owns 32,763 shares of the company’s stock, valued at approximately $712,922.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $21.90, for a total transaction of $54,750.00. Following the transaction, the director now directly owns 451,863 shares in the company, valued at $9,895,799.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Micah G. Woolstenhulme purchased 1,500 shares of United Fire Group stock in a transaction on Wednesday, March 13th. The shares were acquired at an average price of $21.76 per share, for a total transaction of $32,640.00. Following the completion of the transaction, the vice president now directly owns 32,763 shares of the company’s stock, valued at $712,922.88. The disclosure for this purchase can be found here. 5.99% of the stock is currently owned by insiders.

United Fire Group Price Performance

Shares of United Fire Group stock opened at $22.72 on Tuesday. United Fire Group, Inc. has a 12-month low of $18.41 and a 12-month high of $27.72. The company’s 50-day moving average price is $22.47 and its 200-day moving average price is $21.35.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $287.32 million for the quarter, compared to the consensus estimate of $278.70 million. United Fire Group had a negative net margin of 2.71% and a negative return on equity of 4.38%. Equities analysts forecast that United Fire Group, Inc. will post 1.1 earnings per share for the current year.

United Fire Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Thursday, March 7th. United Fire Group’s dividend payout ratio is currently -54.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on UFCS shares. Piper Sandler reissued an “underweight” rating and issued a $21.00 price target on shares of United Fire Group in a report on Monday, April 1st. StockNews.com raised shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 14th.

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.