Empowered Funds LLC Raises Stock Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Empowered Funds LLC boosted its stake in United Fire Group, Inc. (NASDAQ:UFCS) by 5.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 74,664 shares of the insurance provider’s stock after acquiring an additional 3,594 shares during the period. Empowered Funds LLC’s holdings in United Fire Group were worth $2,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in United Fire Group during the fourth quarter worth about $27,000. Point72 Asset Management L.P. increased its stake in United Fire Group by 576.4% during the third quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 4,611 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in United Fire Group by 82.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 3,098 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in United Fire Group during the third quarter worth about $211,000. Finally, Yousif Capital Management LLC purchased a new stake in United Fire Group during the fourth quarter worth about $231,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

United Fire Group Stock Performance

Shares of United Fire Group stock opened at $26.50 on Friday. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $31.70. The company has a market cap of $671.51 million, a PE ratio of 13.66 and a beta of 0.53. The business has a 50-day simple moving average of $27.33 and a 200-day simple moving average of $23.96.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. On average, sell-side analysts predict that United Fire Group, Inc. will post 1.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on UFCS shares. Piper Sandler boosted their price target on shares of United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com raised United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

Insider Activity at United Fire Group

In other United Fire Group news, Director James Noyce purchased 2,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $26.97 per share, with a total value of $53,940.00. Following the completion of the acquisition, the director now directly owns 27,316 shares of the company’s stock, valued at $736,712.52. This trade represents a 7.90 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Corey Lynn Ruehle sold 2,664 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total value of $78,854.40. Following the completion of the transaction, the vice president now directly owns 12,523 shares of the company’s stock, valued at $370,680.80. This trade represents a 17.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.99% of the stock is currently owned by corporate insiders.

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.