Everence Capital Management Inc. Invests $234,000 in United Fire Group, Inc. (NASDAQ:UFCS)

Everence Capital Management Inc. purchased a new position in shares of United Fire Group, Inc. (NASDAQ:UFCS) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 11,630 shares of the insurance provider’s stock, valued at approximately $234,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in United Fire Group by 111.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 178,041 shares of the insurance provider’s stock valued at $3,516,000 after buying an additional 93,810 shares during the period. Assenagon Asset Management S.A. grew its position in United Fire Group by 134.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 143,123 shares of the insurance provider’s stock valued at $2,827,000 after acquiring an additional 82,037 shares in the last quarter. Barclays PLC grew its position in United Fire Group by 8.3% in the 3rd quarter. Barclays PLC now owns 14,478 shares of the insurance provider’s stock valued at $287,000 after acquiring an additional 1,112 shares in the last quarter. Invesco Ltd. grew its position in United Fire Group by 4.5% in the 3rd quarter. Invesco Ltd. now owns 373,607 shares of the insurance provider’s stock valued at $7,379,000 after acquiring an additional 16,134 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in United Fire Group in the 3rd quarter valued at about $422,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

United Fire Group Stock Up 3.5 %

NASDAQ UFCS opened at $22.80 on Friday. United Fire Group, Inc. has a 1-year low of $18.41 and a 1-year high of $27.72. The stock has a 50-day moving average of $22.46 and a two-hundred day moving average of $21.31.

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

United Fire Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, March 7th. United Fire Group’s dividend payout ratio is presently -54.24%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised United Fire Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 14th. Piper Sandler reaffirmed an “underweight” rating and issued a $21.00 target price on shares of United Fire Group in a research report on Monday, April 1st.

Insider Transactions at United Fire Group

In other news, Director Christopher R. Drahozal sold 2,500 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.15, for a total transaction of $55,375.00. Following the completion of the transaction, the director now directly owns 454,363 shares of the company’s stock, valued at $10,064,140.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other United Fire Group news, VP Micah G. Woolstenhulme purchased 1,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $21.76 per share, with a total value of $32,640.00. Following the completion of the acquisition, the vice president now directly owns 32,763 shares of the company’s stock, valued at approximately $712,922.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher R. Drahozal sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.15, for a total value of $55,375.00. Following the completion of the transaction, the director now directly owns 454,363 shares of the company’s stock, valued at $10,064,140.45. The disclosure for this sale can be found here. Corporate insiders own 5.99% 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.