Invesco Ltd. Sells 31,086 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Invesco Ltd. reduced its position in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 14.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 180,072 shares of the insurance provider's stock after selling 31,086 shares during the period. Invesco Ltd. owned about 0.71% of United Fire Group worth $5,123,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Integrated Quantitative Investments LLC acquired a new stake in shares of United Fire Group in the fourth quarter valued at approximately $947,000. Trexquant Investment LP bought a new position in United Fire Group during the fourth quarter worth $1,483,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of United Fire Group by 30.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 118,291 shares of the insurance provider's stock valued at $3,365,000 after purchasing an additional 27,748 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of United Fire Group by 78.6% in the fourth quarter. JPMorgan Chase & Co. now owns 177,877 shares of the insurance provider's stock valued at $5,061,000 after purchasing an additional 78,254 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in shares of United Fire Group during the 4th quarter worth about $330,000. Institutional investors own 62.68% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Dee Ann Mcintyre sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $27.31, for a total transaction of $68,275.00. Following the completion of the sale, the insider now owns 446,863 shares of the company's stock, valued at approximately $12,203,828.53. This represents a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Noyce acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $26.97 per share, for a total transaction of $53,940.00. Following the completion of the purchase, the director now directly owns 27,316 shares of the company's stock, valued at $736,712.52. The trade was a 7.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.12% of the stock is currently owned by company insiders.

United Fire Group Stock Up 0.8 %

Shares of UFCS traded up $0.23 during mid-day trading on Tuesday, hitting $28.05. 96,755 shares of the company's stock were exchanged, compared to its average volume of 126,287. United Fire Group, Inc. has a 52 week low of $18.04 and a 52 week high of $31.70. The stock's 50-day simple moving average is $27.74 and its 200-day simple moving average is $26.73. The firm has a market cap of $712.27 million, a price-to-earnings ratio of 11.79 and a beta of 0.33.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 EPS 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%. Analysts forecast that United Fire Group, Inc. will post 2.42 earnings per share for the current fiscal 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 given a dividend of $0.16 per share. The ex-dividend date was Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 2.28%. United Fire Group's dividend payout ratio is 26.89%.

Wall Street Analyst Weigh In

UFCS has been the subject of a number of research analyst reports. StockNews.com upgraded United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Jones Trading upgraded United Fire Group to a "strong-buy" rating and set a $32.00 price target for the company in a research note on Wednesday, March 5th. Finally, Piper Sandler lifted their target price on United Fire Group from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th.

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.