EntryPoint Capital LLC Invests $330,000 in United Fire Group, Inc. (NASDAQ:UFCS)

EntryPoint Capital LLC purchased a new position in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,589 shares of the insurance provider's stock, valued at approximately $330,000.

Other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its holdings in United Fire Group by 147.8% during 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 in the last quarter. State Street Corp raised its stake in shares of United Fire Group by 2.2% in 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of United Fire Group by 27.3% in the third 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 period. Geode Capital Management LLC boosted its stake in United Fire Group by 0.6% during 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 in the last quarter. Finally, HighTower Advisors LLC acquired a new position in United Fire Group during the third quarter worth about $256,000. 62.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Remove Ads

Analyst Ratings Changes

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

United Fire Group Stock Up 0.6 %

Shares of NASDAQ UFCS traded up $0.19 during mid-day trading on Tuesday, hitting $29.65. 107,766 shares of the company traded hands, compared to its average volume of 124,264. United Fire Group, Inc. has a 1 year low of $18.04 and a 1 year high of $31.70. The stock has a market capitalization of $752.55 million, a price-to-earnings ratio of 12.46 and a beta of 0.45. The business has a 50 day moving average of $27.11 and a two-hundred day moving average of $25.78.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.64. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. As a group, research analysts anticipate that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.16 dividend. 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%.

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.