Los Angeles Capital Management LLC Sells 7,015 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Los Angeles Capital Management LLC reduced its position in United Fire Group, Inc. (NASDAQ:UFCS) by 15.0% during the fourth quarter, HoldingsChannel reports. The fund owned 39,695 shares of the insurance provider’s stock after selling 7,015 shares during the quarter. Los Angeles Capital Management LLC’s holdings in United Fire Group were worth $1,129,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in United Fire Group by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 103,210 shares of the insurance provider’s stock worth $2,936,000 after purchasing an additional 2,940 shares in the last quarter. Rhumbline Advisers lifted its holdings in United Fire Group by 0.7% during the 4th quarter. Rhumbline Advisers now owns 66,148 shares of the insurance provider’s stock worth $1,882,000 after purchasing an additional 480 shares in the last quarter. Empowered Funds LLC lifted its holdings in United Fire Group by 5.1% during the 4th quarter. Empowered Funds LLC now owns 74,664 shares of the insurance provider’s stock worth $2,124,000 after purchasing an additional 3,594 shares in the last quarter. Lion Street Advisors LLC purchased a new stake in United Fire Group during the 4th quarter worth about $266,000. Finally, Yousif Capital Management LLC bought a new stake in United Fire Group during the fourth quarter valued at $231,000. Hedge funds and other institutional investors own 62.68% of the company’s stock.

Analyst Upgrades and Downgrades

UFCS has been the topic of a number of research analyst reports. StockNews.com upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Piper Sandler upped their price objective on shares of United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th.

Insider Transactions at United Fire Group

In other United Fire Group news, Director James Noyce purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were purchased at an average cost of $26.97 per share, with a total value of $53,940.00. Following the completion of the purchase, the director now owns 27,316 shares of the company’s stock, valued at $736,712.52. The trade was a 7.90 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Corey Lynn Ruehle sold 2,664 shares of United Fire Group 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 directly owns 12,523 shares in the company, 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. Insiders own 5.99% of the company’s stock.

United Fire Group Price Performance

Shares of NASDAQ:UFCS opened at $28.07 on Friday. The company’s fifty day moving average price is $26.58 and its 200-day moving average price is $24.40. The firm has a market capitalization of $711.35 million, a price-to-earnings ratio of 11.79 and a beta of 0.53. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $31.70.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results 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 net margin of 4.94% and a return on equity of 8.84%. As a group, equities research analysts expect that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Friday, March 7th. United Fire Group’s payout ratio is 26.89%.

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.