Barclays PLC Buys 26,469 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Barclays PLC raised its stake in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 147.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,380 shares of the insurance provider's stock after buying an additional 26,469 shares during the quarter. Barclays PLC owned 0.18% of United Fire Group worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UFCS. Commonwealth Equity Services LLC acquired a new stake in shares of United Fire Group in the 2nd quarter valued at approximately $223,000. American Century Companies Inc. raised its holdings in United Fire Group by 6.6% in the second quarter. American Century Companies Inc. now owns 33,616 shares of the insurance provider's stock worth $722,000 after purchasing an additional 2,085 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of United Fire Group by 10.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 17,108 shares of the insurance provider's stock worth $368,000 after purchasing an additional 1,625 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of United Fire Group by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 190,672 shares of the insurance provider's stock worth $4,098,000 after purchasing an additional 2,541 shares in the last quarter. Finally, WINTON GROUP Ltd grew its holdings in shares of United Fire Group by 45.0% in the 2nd quarter. WINTON GROUP Ltd now owns 43,008 shares of the insurance provider's stock valued at $924,000 after buying an additional 13,338 shares during the period. Institutional investors own 62.68% of the company's stock.

United Fire Group Trading Up 2.3 %

Shares of UFCS stock traded up $0.60 during trading hours on Wednesday, hitting $26.50. 215,882 shares of the company were exchanged, compared to its average volume of 160,459. United Fire Group, Inc. has a 52 week low of $18.04 and a 52 week high of $31.70. The business has a 50 day moving average of $28.49 and a two-hundred day moving average of $23.30. The company has a market capitalization of $671.56 million, a PE ratio of 13.66 and a beta of 0.54.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.60. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. The firm had revenue of $322.96 million during the quarter, compared to analyst estimates of $306.80 million. During the same period in the prior year, the business earned $0.31 EPS. On average, research analysts forecast that United Fire Group, Inc. will post 1.84 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Friday, November 29th. United Fire Group's dividend payout ratio is presently 32.99%.

Insider Activity at United Fire Group

In other news, VP Corey Lynn Ruehle sold 2,664 shares of the firm's stock in a transaction that occurred on 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 transaction, the vice president now directly owns 12,523 shares of the company's stock, valued at $370,680.80. This trade represents a 17.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

UFCS has been the topic of several research analyst reports. StockNews.com raised United Fire Group from a "hold" rating to a "buy" rating in a research note on Friday, October 4th. Piper Sandler raised United Fire Group from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $19.00 to $26.00 in a research report on Monday, November 18th.

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.