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Healthcare of Ontario Pension Plan Trust Fund Invests $1.27 Million in United Fire Group, Inc. (NASDAQ:UFCS)

Defense World · Sep 8, 2022 05:22

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of United Fire Group, Inc. (NASDAQ:UFCS – Get Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 41,000 shares of the insurance provider's stock, valued at approximately $1,274,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.16% of United Fire Group as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of UFCS. PNC Financial Services Group Inc. boosted its position in shares of United Fire Group by 51.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,838 shares of the insurance provider's stock valued at $119,000 after purchasing an additional 1,302 shares in the last quarter. Bank of Montreal Can acquired a new position in United Fire Group in the first quarter worth approximately $225,000. Advisor Group Holdings Inc. increased its holdings in shares of 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 buying an additional 608 shares in the last quarter. State of Tennessee Treasury Department lifted its position in shares of United Fire Group by 17.9% during the 1st quarter. State of Tennessee Treasury Department now owns 8,196 shares of the insurance provider's stock valued at $255,000 after acquiring an additional 1,242 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new stake in shares of United Fire Group during the 1st quarter worth $269,000. 65.32% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

UFCS has been the topic of a number of recent analyst reports. Piper Sandler raised United Fire Group from a "neutral" rating to an "overweight" rating and set a $37.00 target price on the stock in a research report on Friday, August 5th. They noted that the move was a valuation call. StockNews.com downgraded United Fire Group from a "buy" rating to a "hold" rating in a report on Friday, August 5th.

United Fire Group Stock Performance

United Fire Group stock opened at $29.70 on Thursday. United Fire Group, Inc. has a 52 week low of $19.85 and a 52 week high of $37.26. The firm has a market capitalization of $746.27 million, a price-to-earnings ratio of 11.42 and a beta of 0.04. The company has a 50 day moving average price of $31.38 and a 200 day moving average price of $30.72.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be given a $0.16 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 2.15%. United Fire Group's dividend payout ratio (DPR) is presently 24.62%.

Insider Activity

In other United Fire Group news, VP Micah G. Woolstenhulme acquired 1,000 shares of United Fire Group stock in a transaction that occurred on Wednesday, August 10th. The stock was purchased at an average cost of $29.10 per share, with a total value of $29,100.00. Following the purchase, the vice president now owns 25,753 shares in the company, valued at $749,412.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.71% of the stock is currently owned by corporate insiders.

United Fire Group Company 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.