Los Angeles Capital Management LLC Grows Stock Holdings in United Fire Group, Inc $UFCS

Los Angeles Capital Management LLC lifted its position in shares of United Fire Group, Inc (NASDAQ:UFCS) by 111.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 57,647 shares of the insurance provider’s stock after purchasing an additional 30,328 shares during the period. Los Angeles Capital Management LLC’s holdings in United Fire Group were worth $2,095,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of United Fire Group by 19.8% during the 4th quarter. GAMMA Investing LLC now owns 1,743 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 288 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of United Fire Group by 23.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,726 shares of the insurance provider’s stock worth $63,000 after purchasing an additional 329 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of United Fire Group by 17.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 375 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of United Fire Group by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,883 shares of the insurance provider’s stock worth $226,000 after purchasing an additional 391 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in United Fire Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,482 shares of the insurance provider’s stock valued at $368,000 after purchasing an additional 546 shares during the last quarter. 62.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at United Fire Group

In other United Fire Group news, Director George D. Milligan bought 4,500 shares of United Fire Group stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of $45.23 per share, with a total value of $203,535.00. Following the completion of the acquisition, the director owned 90,034 shares of the company’s stock, valued at approximately $4,072,237.82. This represents a 5.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.06% of the company’s stock.

United Fire Group Price Performance

Shares of NASDAQ:UFCS opened at $46.32 on Wednesday. The company has a 50-day simple moving average of $42.79 and a 200-day simple moving average of $38.89. United Fire Group, Inc has a one year low of $25.79 and a one year high of $49.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.34 and a beta of 0.52.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Tuesday, May 5th. The insurance provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.29. United Fire Group had a net margin of 9.16% and a return on equity of 14.65%. The business had revenue of $369.44 million during the quarter, compared to analysts’ expectations of $340.16 million. On average, analysts predict that United Fire Group, Inc will post 4.69 EPS for the current year.

United Fire Group announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 20th that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

United Fire Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. United Fire Group’s dividend payout ratio is presently 16.13%.

Analyst Upgrades and Downgrades

UFCS has been the topic of several recent analyst reports. Zacks Research upgraded shares of United Fire Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of United Fire Group in a research note on Wednesday, May 13th. Wall Street Zen raised shares of United Fire Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. JonesTrading boosted their price target on shares of United Fire Group from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Piper Sandler boosted their price target on shares of United Fire Group from $45.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, United Fire Group has a consensus rating of “Buy” and an average target price of $51.00.

United Fire Group Profile

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.