Inceptionr LLC Purchases Shares of 8,946 United Fire Group, Inc. (NASDAQ:UFCS)

Inceptionr LLC bought a new position in 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 bought 8,946 shares of the insurance provider's stock, valued at approximately $255,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new position in United Fire Group in the 4th quarter valued at approximately $27,000. Point72 Asset Management L.P. grew its holdings in United Fire Group by 576.4% during the third quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider's stock valued at $113,000 after purchasing an additional 4,611 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of United Fire Group by 82.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider's stock valued at $144,000 after purchasing an additional 3,098 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in United Fire Group during the 3rd quarter worth $211,000. Finally, Yousif Capital Management LLC acquired a new stake in United Fire Group in the 4th quarter valued at approximately $231,000. 62.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at United Fire Group

In other United Fire Group news, Director James Noyce acquired 2,000 shares of the business's stock in a transaction dated Friday, February 14th. The shares were 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 directly owns 27,316 shares in the company, valued at $736,712.52. This trade represents a 7.90 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Corey Lynn Ruehle sold 2,664 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $29.60, for a total transaction of $78,854.40. Following the transaction, the vice president now owns 12,523 shares of the company's stock, valued at $370,680.80. The trade was a 17.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,664 shares of company stock valued at $217,954 over the last three months. Company insiders own 5.99% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. 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 note on Wednesday, March 5th. Piper Sandler boosted their price objective on shares of United Fire Group from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report 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.

United Fire Group Stock Up 0.1 %

NASDAQ UFCS traded up $0.02 during trading on Thursday, reaching $28.16. 105,169 shares of the stock traded hands, compared to its average volume of 118,026. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $31.70. The firm has a market cap of $714.73 million, a price-to-earnings ratio of 11.83 and a beta of 0.45. The stock's 50-day moving average price is $26.46 and its 200 day moving average price is $24.89.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share (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%. 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 declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.27%. United Fire Group's dividend payout ratio (DPR) is 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.