CSM Advisors LLC Lowers Position in United Fire Group, Inc $UFCS

CSM Advisors LLC trimmed its holdings in shares of United Fire Group, Inc (NASDAQ:UFCS) by 16.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,300 shares of the insurance provider’s stock after selling 23,445 shares during the period. CSM Advisors LLC’s holdings in United Fire Group were worth $3,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in UFCS. NewEdge Advisors LLC lifted its position in shares of United Fire Group by 17.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 375 shares during the period. The Manufacturers Life Insurance Company increased its holdings in United Fire Group by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 7,883 shares of the insurance provider’s stock valued at $226,000 after buying an additional 391 shares during the period. PNC Financial Services Group Inc. raised its stake in United Fire Group by 7.1% in the second quarter. PNC Financial Services Group Inc. now owns 6,024 shares of the insurance provider’s stock worth $173,000 after buying an additional 399 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in United Fire Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,482 shares of the insurance provider’s stock worth $368,000 after buying an additional 546 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in United Fire Group by 1.0% during the second quarter. Prudential Financial Inc. now owns 68,886 shares of the insurance provider’s stock worth $1,977,000 after buying an additional 714 shares during the period. Hedge funds and other institutional investors own 62.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler increased their target price on United Fire Group from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Weiss Ratings restated a “buy (b-)” rating on shares of United Fire Group in a research note on Monday, December 29th. JonesTrading raised their price objective on United Fire Group from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Zacks Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Wall Street Zen downgraded shares of United Fire Group from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Insider Transactions at United Fire Group

In other United Fire Group news, major shareholder Dee Ann Mcintyre sold 4,250 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $38.84, for a total value of $165,070.00. Following the completion of the sale, the insider 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher R. Drahozal sold 4,250 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $38.49, for a total value of $163,582.50. Following the sale, the director owned 429,113 shares in the company, valued at $16,516,559.37. The trade was a 0.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 12,750 shares of company stock valued at $493,723. 6.12% of the stock is currently owned by company insiders.

United Fire Group Price Performance

NASDAQ UFCS opened at $37.28 on Tuesday. The firm’s fifty day simple moving average is $36.93 and its two-hundred day simple moving average is $34.73. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.16. United Fire Group, Inc has a 12-month low of $25.01 and a 12-month high of $40.63. The firm has a market capitalization of $951.39 million, a P/E ratio of 8.32 and a beta of 0.44.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Wednesday, February 11th. The insurance provider reported $1.50 EPS for the quarter, beating the consensus estimate of $0.90 by $0.60. The firm had revenue of $365.81 million during 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%. Analysts forecast that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. This is a boost from United Fire Group’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, February 24th. United Fire Group’s dividend payout ratio (DPR) is 17.86%.

United Fire Group Company Profile

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.