Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in United Fire Group, Inc. (NASDAQ:UFCS)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in United Fire Group, Inc. (NASDAQ:UFCS) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,190 shares of the insurance provider’s stock after purchasing an additional 957 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United Fire Group were worth $104,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new position in United Fire Group during the 4th quarter valued at about $234,000. Louisiana State Employees Retirement System bought a new stake in United Fire Group during the 4th quarter valued at $213,000. SG Americas Securities LLC increased its holdings in shares of United Fire Group by 6.7% in the 4th quarter. SG Americas Securities LLC now owns 13,054 shares of the insurance provider’s stock valued at $263,000 after acquiring an additional 825 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of United Fire Group by 37.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 12,937 shares of the insurance provider’s stock worth $256,000 after acquiring an additional 3,514 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of United Fire Group by 106.8% during the 3rd quarter. GSA Capital Partners LLP now owns 35,048 shares of the insurance provider’s stock worth $692,000 after purchasing an additional 18,097 shares during the last quarter. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at United Fire Group

In other United Fire Group news, VP Micah G. Woolstenhulme bought 1,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average price 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 $712,922.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Micah G. Woolstenhulme bought 1,500 shares of the stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average cost of $21.76 per share, for a total transaction of $32,640.00. Following the acquisition, the vice president now directly owns 32,763 shares in the company, valued at approximately $712,922.88. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $54,750.00. Following the completion of the sale, the director now directly owns 451,863 shares of the company’s stock, valued at approximately $9,895,799.70. The disclosure for this sale can be found here. 5.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

United Fire Group Stock Performance

United Fire Group stock opened at $23.46 on Friday. The stock has a market capitalization of $593.07 million, a P/E ratio of -19.88 and a beta of 0.34. United Fire Group, Inc. has a 1 year low of $18.41 and a 1 year high of $25.55. The company’s fifty day moving average price is $22.20 and its 200 day moving average price is $21.59.

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

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Thursday, March 7th. United Fire Group’s payout ratio is -54.24%.

About United Fire Group

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.