Martingale Asset Management L P increased its position in shares of United Fire Group, Inc. (NASDAQ:UFCS – Get Rating) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,777 shares of the insurance provider's stock after purchasing an additional 400 shares during the period. Martingale Asset Management L P owned about 0.10% of United Fire Group worth $802,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Bank of Montreal Can acquired a new stake in United Fire Group during the first quarter worth $225,000. Advisor Group Holdings Inc. increased its stake in United Fire Group by 9.2% in the first quarter. Advisor Group Holdings Inc. now owns 7,240 shares of the insurance provider's stock valued at $225,000 after acquiring an additional 608 shares during the period. PNC Financial Services Group Inc. raised its position in United Fire Group by 51.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,838 shares of the insurance provider's stock worth $119,000 after purchasing an additional 1,302 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in United Fire Group during the first quarter worth about $1,274,000. Finally, State of Tennessee Treasury Department boosted its holdings in United Fire Group by 17.9% during the first quarter. State of Tennessee Treasury Department now owns 8,196 shares of the insurance provider's stock valued at $255,000 after purchasing an additional 1,242 shares in the last quarter. 65.32% of the stock is currently owned by institutional investors and hedge funds.
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Insider Buying and Selling at United Fire Group
In other United Fire Group news, VP Micah G. Woolstenhulme bought 1,000 shares of the firm's stock in a transaction dated Wednesday, August 10th. The shares were bought at an average price of $29.10 per share, for a total transaction of $29,100.00. Following the completion of the acquisition, the vice president now owns 25,753 shares of the company's stock, valued at $749,412.30. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.71% of the company's stock.
United Fire Group Trading Down 0.3 %
NASDAQ:UFCS opened at $29.19 on Monday. The stock has a market capitalization of $733.46 million, a P/E ratio of 11.23 and a beta of 0.04. United Fire Group, Inc. has a 1 year low of $19.85 and a 1 year high of $37.26. The firm has a 50 day moving average of $31.86 and a 200-day moving average of $30.67.
United Fire Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 2.19%. United Fire Group's dividend payout ratio is 24.62%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on UFCS shares. Piper Sandler upgraded United Fire Group from a "neutral" rating to an "overweight" rating and set a $37.00 target price for the company in a research report on Friday, August 5th. They noted that the move was a valuation call. StockNews.com downgraded shares of United Fire Group from a "buy" rating to a "hold" rating in a research note on Friday, August 5th.
United Fire Group Profile
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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 commercial multiple peril and inland marine insurance, as well as assumed reinsurance products.
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