Earnest Partners LLC Trims Stake in United Fire Group, Inc. (NASDAQ:UFCS)

Earnest Partners LLC lowered its stake in United Fire Group, Inc. (NASDAQ:UFCS) by 1.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,265,991 shares of the insurance provider’s stock after selling 22,575 shares during the quarter. Earnest Partners LLC owned approximately 5.00% of United Fire Group worth $27,561,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in shares of United Fire Group by 6.7% during the 4th quarter. SG Americas Securities LLC now owns 13,054 shares of the insurance provider’s stock worth $263,000 after purchasing an additional 825 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of United Fire Group during the 4th quarter worth $213,000. Everence Capital Management Inc. purchased a new position in shares of United Fire Group during the 4th quarter worth $234,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of United Fire Group by 22.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,190 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 957 shares during the period. Finally, Foundry Partners LLC lifted its stake in shares of United Fire Group by 8.8% during the 4th quarter. Foundry Partners LLC now owns 158,661 shares of the insurance provider’s stock worth $3,192,000 after purchasing an additional 12,815 shares during the period. 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 2,500 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $21.06, for a total value of $52,650.00. Following the completion of the sale, the director now directly owns 449,363 shares in the company, valued at approximately $9,463,584.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.99% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on UFCS shares. Piper Sandler reissued an “underweight” rating and set a $21.00 price target on shares of United Fire Group in a research note on Monday, April 1st. StockNews.com downgraded United Fire Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th.

United Fire Group Stock Down 1.0 %

Shares of UFCS stock traded down $0.23 on Monday, reaching $21.83. 69,697 shares of the stock were exchanged, compared to its average volume of 100,117. The stock has a market cap of $552.30 million, a P/E ratio of -31.64 and a beta of 0.39. The firm has a 50 day moving average of $21.56 and a two-hundred day moving average of $22.14. United Fire Group, Inc. has a 1-year low of $18.41 and a 1-year high of $25.55.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Tuesday, May 7th. The insurance provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $296.00 million during the quarter, compared to the consensus estimate of $282.30 million. United Fire Group had a negative return on equity of 2.63% and a negative net margin of 1.50%. On average, equities research analysts predict that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.16 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.64 annualized dividend and a yield of 2.93%. United Fire Group’s dividend payout ratio is currently -92.75%.

About United Fire Group

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.