Los Angeles Capital Management LLC Sells 7,015 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Los Angeles Capital Management LLC lowered its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 15.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 39,695 shares of the insurance provider’s stock after selling 7,015 shares during the period. Los Angeles Capital Management LLC owned approximately 0.16% of United Fire Group worth $1,129,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd acquired a new position in United Fire Group during the 4th quarter valued at about $27,000. Point72 Asset Management L.P. boosted its stake in United Fire Group by 576.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 4,611 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in United Fire Group by 82.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock valued at $144,000 after purchasing an additional 3,098 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in United Fire Group during the 3rd quarter valued at about $211,000. Finally, Yousif Capital Management LLC acquired a new position in United Fire Group during the 4th quarter valued at about $231,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

Insider Buying and Selling

In related news, VP Corey Lynn Ruehle sold 2,664 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the completion of the sale, the vice president now owns 12,523 shares in the company, valued at approximately $370,680.80. This trade represents a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Noyce acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $26.97 per share, with a total value of $53,940.00. Following the acquisition, the director now directly owns 27,316 shares of the company’s stock, valued at $736,712.52. The trade was a 7.90 % increase in their position. The disclosure for this purchase can be found here. 5.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UFCS. Piper Sandler lifted their price target on United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. StockNews.com raised shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 12th.

United Fire Group Stock Performance

Shares of UFCS stock opened at $28.07 on Friday. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70. The company has a 50-day simple moving average of $26.58 and a two-hundred day simple moving average of $24.40. The company has a market capitalization of $711.35 million, a price-to-earnings ratio of 11.79 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. On average, sell-side analysts forecast that United Fire Group, Inc. will post 2.42 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 2.28%. United Fire Group’s dividend payout ratio (DPR) is presently 26.89%.

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.