United Fire Group, Inc $UFCS Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. raised its stake in United Fire Group, Inc (NASDAQ:UFCS) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,768 shares of the insurance provider’s stock after acquiring an additional 10,000 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.83% of United Fire Group worth $7,848,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of UFCS. Invesco Ltd. increased its holdings in shares of United Fire Group by 108.8% during the 2nd quarter. Invesco Ltd. now owns 347,008 shares of the insurance provider’s stock valued at $9,959,000 after purchasing an additional 180,836 shares in the last quarter. Royce & Associates LP boosted its holdings in United Fire Group by 236.4% during the fourth quarter. Royce & Associates LP now owns 235,925 shares of the insurance provider’s stock worth $8,576,000 after buying an additional 165,789 shares in the last quarter. AQR Capital Management LLC boosted its holdings in United Fire Group by 59.5% during the second quarter. AQR Capital Management LLC now owns 301,076 shares of the insurance provider’s stock worth $8,641,000 after buying an additional 112,318 shares in the last quarter. UBS Group AG grew its position in United Fire Group by 79.4% during the third quarter. UBS Group AG now owns 211,339 shares of the insurance provider’s stock valued at $6,429,000 after buying an additional 93,525 shares during the period. Finally, First Trust Advisors LP acquired a new stake in United Fire Group during the third quarter valued at $2,080,000. 62.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UFCS. Wall Street Zen raised shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research lowered shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings restated a “buy (b)” rating on shares of United Fire Group in a research report on Wednesday, May 13th. Piper Sandler lifted their price target on United Fire Group from $45.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, JonesTrading upped their price target on United Fire Group from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, United Fire Group has a consensus rating of “Moderate Buy” and an average price target of $51.00.

Insider Buying and Selling at United Fire Group

In related news, Director George D. Milligan purchased 4,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $45.23 per share, with a total value of $203,535.00. Following the purchase, the director owned 90,034 shares of the company’s stock, valued at $4,072,237.82. This represents a 5.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.06% of the stock is currently owned by company insiders.

United Fire Group Price Performance

United Fire Group stock opened at $52.45 on Tuesday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 10.57 and a beta of 0.50. The company’s fifty day moving average price is $48.36 and its 200 day moving average price is $41.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.34 and a current ratio of 0.34. United Fire Group, Inc has a 1 year low of $25.79 and a 1 year high of $54.42.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Tuesday, May 5th. The insurance provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.29. The company had revenue of $369.44 million during the quarter, compared to analysts’ expectations of $340.15 million. United Fire Group had a net margin of 9.16% and a return on equity of 14.65%. As a group, equities research analysts anticipate that United Fire Group, Inc will post 4.69 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, June 5th. United Fire Group’s dividend payout ratio is 16.13%.

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

United Fire Group Company Profile

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.