Connor Clark & Lunn Investment Management Ltd. Acquires 14,110 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in United Fire Group, Inc. (NASDAQ:UFCS) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,434 shares of the insurance provider’s stock after buying an additional 14,110 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in United Fire Group were worth $3,796,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. R Squared Ltd purchased a new position in United Fire Group during the fourth quarter worth $27,000. Point72 Asset Management L.P. boosted its stake in shares of United Fire Group by 576.4% during the 3rd 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. grew its holdings in United Fire Group by 82.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock valued at $144,000 after purchasing an additional 3,098 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in United Fire Group in the 3rd quarter worth about $211,000. Finally, Yousif Capital Management LLC bought a new stake in United Fire Group in 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 Down 0.3 %

Shares of NASDAQ:UFCS opened at $29.05 on Tuesday. The business’s 50 day moving average is $26.51 and its 200 day moving average is $25.09. The stock has a market cap of $737.32 million, a P/E ratio of 12.21 and a beta of 0.45. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings results 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 anticipate that United Fire Group, Inc. will post 2.42 EPS for the current fiscal year.

United Fire Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.16 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 2.20%. United Fire Group’s payout ratio is presently 26.89%.

Insider Activity

In other news, Director James Noyce purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $26.97 per share, with a total value 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 represents a 7.90 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Corey Lynn Ruehle sold 2,664 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $29.60, for a total transaction of $78,854.40. Following the transaction, the vice president now owns 12,523 shares of the company’s stock, valued at approximately $370,680.80. This trade represents a 17.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,664 shares of company stock worth $217,954. Corporate insiders own 5.99% of the company’s stock.

Wall Street Analyst Weigh In

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

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.