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Swiss National Bank Acquires 3,500 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Defense World · Sep 4, 2022 04:11

Swiss National Bank lifted its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS – Get Rating) by 7.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 50,400 shares of the insurance provider's stock after acquiring an additional 3,500 shares during the period. Swiss National Bank owned approximately 0.20% of United Fire Group worth $1,566,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its holdings in shares of United Fire Group by 9.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 71,722 shares of the insurance provider's stock worth $2,228,000 after acquiring an additional 6,388 shares during the period. IndexIQ Advisors LLC lifted its holdings in United Fire Group by 10.5% during the 1st quarter. IndexIQ Advisors LLC now owns 13,407 shares of the insurance provider's stock valued at $417,000 after purchasing an additional 1,272 shares during the last quarter. Point72 Asset Management L.P. bought a new position in United Fire Group during the 4th quarter valued at about $306,000. Advisor Partners LLC lifted its holdings in United Fire Group by 18.6% during the 1st quarter. Advisor Partners LLC now owns 10,289 shares of the insurance provider's stock valued at $320,000 after purchasing an additional 1,611 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in United Fire Group during the 1st quarter valued at about $269,000. 65.32% of the stock is owned by institutional investors.

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Insider Buying and Selling at United Fire Group

In other United Fire Group news, VP Micah G. Woolstenhulme purchased 1,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was bought at an average price of $29.10 per share, for a total transaction of $29,100.00. Following the transaction, the vice president now directly owns 25,753 shares in the company, valued at $749,412.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.71% of the company's stock.

United Fire Group Trading Down 0.3 %

UFCS opened at $29.19 on Friday. The stock has a market capitalization of $733.46 million, a PE ratio of 11.23 and a beta of 0.01. 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 price of $31.86 and a two-hundred day moving average price of $30.67.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.19%. The ex-dividend date is Thursday, September 1st. United Fire Group's payout ratio is presently 24.62%.

Analysts Set New Price Targets

Several brokerages recently issued reports on UFCS. StockNews.com downgraded shares of United Fire Group from a "buy" rating to a "hold" rating in a report on Friday, August 5th. Piper Sandler upgraded shares of United Fire Group from a "neutral" rating to an "overweight" rating and set a $37.00 price objective for the company in a research report on Friday, August 5th. They noted that the move was a valuation call.

About United Fire Group

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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.