Connor Clark & Lunn Investment Management Ltd. Purchases 14,110 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,434 shares of the insurance provider's stock after acquiring an additional 14,110 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.53% of United Fire Group worth $3,796,000 as of its most recent SEC filing.

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

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Insiders Place Their Bets

In other United Fire Group news, Director James Noyce bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $26.97 per share, with a total value of $53,940.00. Following the completion of the transaction, the director now owns 27,316 shares in the company, valued at approximately $736,712.52. This trade represents a 7.90 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, 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 of the company's stock, valued at approximately $12,517,978.79. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Jones Trading upgraded shares of United Fire Group to a "strong-buy" rating and set a $32.00 target price for the company in a research report on Wednesday, March 5th. StockNews.com raised United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Finally, Piper Sandler increased their price target 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.

United Fire Group Stock Down 1.0 %

NASDAQ:UFCS traded down $0.28 during mid-day trading on Friday, reaching $28.76. 336,451 shares of the company were exchanged, compared to its average volume of 118,214. United Fire Group, Inc. has a 12 month low of $18.04 and a 12 month high of $31.70. The stock has a market cap of $729.96 million, a PE ratio of 12.08 and a beta of 0.45. The company has a fifty day moving average of $26.61 and a 200 day moving average of $25.20.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, beating the consensus estimate 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, equities research analysts anticipate that United Fire Group, Inc. will post 2.42 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.16 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 2.23%. United Fire Group's dividend payout ratio (DPR) is presently 26.89%.

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.