Charles Schwab Investment Management Inc. Has $6.71 Million Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Charles Schwab Investment Management Inc. reduced its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,808 shares of the insurance provider's stock after selling 44,834 shares during the period. Charles Schwab Investment Management Inc. owned 0.93% of United Fire Group worth $6,709,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. R Squared Ltd bought a new position in United Fire Group during the fourth quarter valued at about $27,000. Point72 Asset Management L.P. lifted its holdings in United Fire Group by 576.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider's stock worth $113,000 after purchasing an additional 4,611 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in United Fire Group by 82.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider's stock worth $144,000 after purchasing an additional 3,098 shares during the period. Yousif Capital Management LLC acquired a new position in United Fire Group during the fourth quarter valued at approximately $231,000. Finally, Lion Street Advisors LLC acquired a new position in United Fire Group during the fourth quarter valued at approximately $266,000. 62.68% of the stock is owned by institutional investors and hedge funds.

United Fire Group Stock Down 0.2 %

United Fire Group stock traded down $0.06 during mid-day trading on Friday, reaching $29.66. The company had a trading volume of 86,776 shares, compared to its average volume of 124,072. The firm has a market cap of $752.80 million, a price-to-earnings ratio of 12.46 and a beta of 0.45. The company has a 50 day moving average of $26.99 and a 200-day moving average of $25.58. United Fire Group, Inc. has a 52 week low of $18.04 and a 52 week high of $31.70.

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United Fire Group (NASDAQ:UFCS - Get Free Report) last released its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share 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%. On average, analysts predict that United Fire Group, Inc. will post 2.42 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, March 7th. United Fire Group's dividend payout ratio is 26.89%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on UFCS. StockNews.com upgraded shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Jones Trading upgraded United Fire Group to a "strong-buy" rating and set a $32.00 price objective on the stock in a research note on Wednesday, March 5th. Finally, Piper Sandler boosted their price objective on United Fire Group from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th.

Insider Activity

In other United Fire Group news, major shareholder Dee Ann Mcintyre sold 2,500 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $27.31, for a total transaction of $68,275.00. Following the completion of the transaction, the insider now directly owns 446,863 shares in the company, valued at $12,203,828.53. This represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Noyce acquired 2,000 shares of the business's stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $26.97 per share, with a total value of $53,940.00. Following the completion of the acquisition, the director now owns 27,316 shares of the company's stock, valued at approximately $736,712.52. This trade represents a 7.90 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.99% of the company's stock.

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.