13,404 Shares in United Fire Group, Inc $UFCS Purchased by Legato Capital Management LLC

Legato Capital Management LLC bought a new position in shares of United Fire Group, Inc (NASDAQ:UFCS) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 13,404 shares of the insurance provider’s stock, valued at approximately $487,000. Legato Capital Management LLC owned approximately 0.05% of United Fire Group at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Allianz Asset Management GmbH purchased a new stake in United Fire Group during the 3rd quarter worth about $5,940,000. Hillsdale Investment Management Inc. increased its holdings in shares of United Fire Group by 16.0% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 227,268 shares of the insurance provider’s stock valued at $6,913,000 after acquiring an additional 31,400 shares during the last quarter. Royce & Associates LP purchased a new position in United Fire Group during the 3rd quarter worth approximately $2,134,000. Vanguard Group Inc. grew its stake in United Fire Group by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,511,541 shares of the insurance provider’s stock worth $54,945,000 after buying an additional 35,338 shares during the last quarter. Finally, LSV Asset Management grew its stake in United Fire Group by 166.7% during the 3rd quarter. LSV Asset Management now owns 95,000 shares of the insurance provider’s stock worth $2,890,000 after buying an additional 59,384 shares during the last quarter. Hedge funds and other institutional investors own 62.68% of the company’s stock.

Insider Activity at United Fire Group

In related news, Director Christopher R. Drahozal sold 4,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $38.49, for a total value of $163,582.50. Following the completion of the transaction, the director directly owned 429,113 shares of the company’s stock, valued at $16,516,559.37. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Dee Ann Mcintyre sold 4,250 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $38.84, for a total value of $165,070.00. Following the completion of the transaction, the insider directly owned 437,613 shares of the company’s stock, valued at $16,996,888.92. The trade was a 0.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,750 shares of company stock valued at $493,723 over the last ninety days. 6.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

United Fire Group Stock Up 0.1%

UFCS opened at $47.21 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.34 and a quick ratio of 0.34. The business has a 50 day simple moving average of $41.28 and a 200-day simple moving average of $38.31. The stock has a market capitalization of $1.21 billion, a P/E ratio of 9.52 and a beta of 0.50. United Fire Group, Inc has a 12 month low of $25.79 and a 12 month high of $49.94.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $1.16 EPS for the quarter, beating the consensus estimate of $0.87 by $0.29. United Fire Group had a return on equity of 14.65% and a net margin of 9.16%.The business had revenue of $369.44 million during the quarter, compared to analysts’ expectations of $340.16 million. On average, equities analysts anticipate that United Fire Group, Inc will post 4.88 earnings per share for the current fiscal year.

United Fire Group declared that its board has authorized a stock repurchase plan on Wednesday, May 20th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

United Fire Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, June 5th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. United Fire Group’s dividend payout ratio (DPR) is presently 16.13%.

About United Fire Group

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.