Charles Schwab Investment Management Inc. Sells 44,834 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Charles Schwab Investment Management Inc. trimmed its stake in United Fire Group, Inc. (NASDAQ:UFCS) by 16.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 235,808 shares of the insurance provider’s stock after selling 44,834 shares during the period. Charles Schwab Investment Management Inc.’s holdings in United Fire Group were worth $6,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. R Squared Ltd bought a new stake in shares of United Fire Group in the fourth quarter valued at about $27,000. Point72 Asset Management L.P. raised its holdings in shares of United Fire Group by 576.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 4,611 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of United Fire Group by 82.3% in the 3rd 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 bought a new position in shares of United Fire Group during the third quarter valued at approximately $211,000. Finally, Yousif Capital Management LLC purchased a new position in United Fire Group during the fourth quarter valued at approximately $231,000. 62.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on UFCS. StockNews.com upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Jones Trading raised United Fire Group to a “strong-buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday, March 5th. Finally, Piper Sandler boosted their target price on shares of United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th.

Insider Transactions at United Fire Group

In other news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $28.33, for a total transaction of $70,825.00. Following the completion of the sale, the director now directly owns 441,863 shares in the company, valued at approximately $12,517,978.79. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Noyce bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $26.97 per share, for a total transaction of $53,940.00. Following the completion of the transaction, the director now owns 27,316 shares in the company, valued at $736,712.52. This trade represents a 7.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.99% of the company’s stock.

United Fire Group Stock Up 1.5 %

Shares of UFCS opened at $29.19 on Tuesday. The company has a 50 day moving average of $26.75 and a two-hundred day moving average of $25.39. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $31.70. The company has a market cap of $740.87 million, a price-to-earnings ratio of 12.26 and a beta of 0.45.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, beating the consensus estimate of $0.61 by $0.64. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. On average, sell-side analysts expect that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.19%. United Fire Group’s payout ratio is 26.89%.

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.