State Street Corp Purchases 17,415 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

State Street Corp increased its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 821,566 shares of the insurance provider's stock after acquiring an additional 17,415 shares during the period. State Street Corp owned about 3.24% of United Fire Group worth $17,195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in UFCS. Innealta Capital LLC acquired a new stake in United Fire Group during the second quarter valued at approximately $65,000. Point72 Asset Management L.P. boosted its stake 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 valued at $113,000 after buying an additional 4,611 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in United Fire Group by 82.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider's stock valued at $144,000 after buying an additional 3,098 shares in the last quarter. XTX Topco Ltd bought a new stake in United Fire Group in the second quarter valued at $213,000. Finally, Commonwealth Equity Services LLC acquired a new position in United Fire Group during the second quarter worth $223,000. Institutional investors own 62.68% of the company's stock.

Wall Street Analyst Weigh In

UFCS has been the topic of several recent analyst reports. StockNews.com upgraded shares of United Fire Group from a "hold" rating to a "buy" rating in a research note on Friday, October 4th. Piper Sandler upgraded shares of United Fire Group from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $19.00 to $26.00 in a research report on Monday, November 18th.

Insider Buying and Selling at United Fire Group

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the company's 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 approximately $370,680.80. This represents a 17.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.99% of the company's stock.

United Fire Group Trading Up 1.5 %

NASDAQ UFCS traded up $0.43 during trading hours on Wednesday, reaching $29.10. 51,126 shares of the company's stock were exchanged, compared to its average volume of 112,002. The firm has a fifty day moving average of $26.23 and a 200-day moving average of $22.62. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $31.70. The stock has a market cap of $737.45 million, a PE ratio of 15.00 and a beta of 0.52.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.60. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. The company had revenue of $322.96 million for the quarter, compared to analyst estimates of $306.80 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. As a group, research analysts forecast that United Fire Group, Inc. will post 1.84 EPS for the current year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Friday, November 29th. United Fire Group's dividend payout ratio is currently 32.99%.

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.