Foundry Partners LLC Has $3.19 Million Stake in United Fire Group, Inc. (NASDAQ:UFCS)

Foundry Partners LLC increased its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 158,661 shares of the insurance provider’s stock after acquiring an additional 12,815 shares during the period. Foundry Partners LLC owned about 0.63% of United Fire Group worth $3,192,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in UFCS. Envestnet Asset Management Inc. boosted its position in shares of United Fire Group by 111.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 178,041 shares of the insurance provider’s stock valued at $3,516,000 after acquiring an additional 93,810 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of United Fire Group by 134.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 143,123 shares of the insurance provider’s stock valued at $2,827,000 after acquiring an additional 82,037 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of United Fire Group during the 3rd quarter valued at about $569,000. Charles Schwab Investment Management Inc. boosted its position in shares of United Fire Group by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 336,377 shares of the insurance provider’s stock valued at $6,643,000 after acquiring an additional 23,922 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of United Fire Group during the 3rd quarter valued at about $422,000. 62.68% of the stock is currently owned by institutional investors and hedge funds.

United Fire Group Stock Performance

NASDAQ:UFCS opened at $22.72 on Tuesday. United Fire Group, Inc. has a 12 month low of $18.41 and a 12 month high of $27.72. The company’s 50-day moving average price is $22.47 and its two-hundred day moving average price is $21.35.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $287.32 million for the quarter, compared to analyst estimates of $278.70 million. United Fire Group had a negative net margin of 2.71% and a negative return on equity of 4.38%. As a group, analysts forecast that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Thursday, March 7th. United Fire Group’s dividend payout ratio is presently -54.24%.

Wall Street Analysts Forecast Growth

UFCS has been the topic of several recent research reports. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 14th. Piper Sandler restated an “underweight” rating and issued a $21.00 price target on shares of United Fire Group in a research report on Monday, April 1st.

Insiders Place Their Bets

In related news, VP Micah G. Woolstenhulme bought 1,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was bought at an average cost of $21.76 per share, with a total value of $32,640.00. Following the completion of the purchase, the vice president now owns 32,763 shares in the company, valued at approximately $712,922.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Micah G. Woolstenhulme bought 1,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was bought at an average cost of $21.76 per share, with a total value of $32,640.00. Following the completion of the purchase, the vice president now owns 32,763 shares in the company, valued at approximately $712,922.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christopher R. Drahozal sold 2,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $21.90, for a total transaction of $54,750.00. Following the completion of the transaction, the director now directly owns 451,863 shares of the company’s stock, valued at $9,895,799.70. The disclosure for this sale can be found here. Insiders own 5.99% of the company’s stock.

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.