American Century Companies Inc. Boosts Stock Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

American Century Companies Inc. boosted its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 87.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,996 shares of the insurance provider's stock after acquiring an additional 66,756 shares during the quarter. American Century Companies Inc. owned 0.56% of United Fire Group worth $4,068,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of United Fire Group by 147.8% in the third quarter. Barclays PLC now owns 44,380 shares of the insurance provider's stock worth $928,000 after purchasing an additional 26,469 shares during the last quarter. State Street Corp lifted its holdings in United Fire Group by 2.2% during the 3rd quarter. State Street Corp now owns 821,566 shares of the insurance provider's stock worth $17,195,000 after buying an additional 17,415 shares during the period. JPMorgan Chase & Co. grew its position in shares of United Fire Group by 27.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,623 shares of the insurance provider's stock valued at $2,085,000 after buying an additional 21,352 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of United Fire Group by 0.6% in the third quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider's stock valued at $10,514,000 after buying an additional 2,925 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in shares of United Fire Group in the third quarter valued at about $256,000. 62.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Jones Trading upgraded United Fire Group to a "strong-buy" rating and set a $32.00 target price on the stock in a report on Wednesday, March 5th. Piper Sandler upped their price objective on shares of United Fire Group from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, StockNews.com raised shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 12th.

Insider Activity

In other United Fire Group news, Director James Noyce acquired 2,000 shares of the stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $26.97 per share, for a total transaction of $53,940.00. Following the completion of the acquisition, the director now owns 27,316 shares in the company, valued at approximately $736,712.52. This represents a 7.90 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher R. Drahozal sold 2,500 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $28.33, for a total transaction of $70,825.00. Following the completion of the transaction, the director now directly owns 441,863 shares in the company, valued at $12,517,978.79. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.99% of the company's stock.

United Fire Group Price Performance

Shares of United Fire Group stock traded down $0.42 on Thursday, hitting $26.21. 114,319 shares of the company's stock traded hands, compared to its average volume of 125,253. The company has a fifty day moving average of $27.40 and a two-hundred day moving average of $26.09. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $31.70. The company has a market capitalization of $665.24 million, a price-to-earnings ratio of 11.01 and a beta of 0.33.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings results 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 return on equity of 8.84% and a net margin of 4.94%. Equities research analysts anticipate that United Fire Group, Inc. will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.44%. The ex-dividend date was Friday, March 7th. United Fire Group's dividend payout ratio (DPR) is currently 26.89%.

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.