41,000 Shares in United Fire Group, Inc. (NASDAQ:UFCS) Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of United Fire Group, Inc. (NASDAQ:UFCSGet Rating) in the first quarter, HoldingsChannel.com reports. The firm bought 41,000 shares of the insurance provider’s stock, valued at approximately $1,274,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Systematic Financial Management LP increased its stake in shares of United Fire Group by 443.0% in the first quarter. Systematic Financial Management LP now owns 190,417 shares of the insurance provider’s stock worth $5,916,000 after purchasing an additional 155,351 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of United Fire Group by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 71,722 shares of the insurance provider’s stock valued at $2,228,000 after acquiring an additional 6,388 shares during the period. Swiss National Bank grew its stake in shares of United Fire Group by 7.5% in the first quarter. Swiss National Bank now owns 50,400 shares of the insurance provider’s stock worth $1,566,000 after acquiring an additional 3,500 shares during the last quarter. Citigroup Inc. increased its position in United Fire Group by 10.4% during the first quarter. Citigroup Inc. now owns 23,023 shares of the insurance provider’s stock worth $716,000 after acquiring an additional 2,177 shares during the period. Finally, IndexIQ Advisors LLC raised its stake in United Fire Group by 10.5% during the 1st quarter. IndexIQ Advisors LLC now owns 13,407 shares of the insurance provider’s stock valued at $417,000 after purchasing an additional 1,272 shares during the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

United Fire Group Price Performance

Shares of UFCS stock opened at $29.70 on Thursday. United Fire Group, Inc. has a one year low of $19.85 and a one year high of $37.26. The stock has a fifty day moving average price of $31.38 and a 200 day moving average price of $30.72. The stock has a market cap of $746.27 million, a P/E ratio of 11.42 and a beta of 0.04.

United Fire Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, September 1st. United Fire Group’s payout ratio is 24.62%.

Insider Activity

In other United Fire Group news, VP Micah G. Woolstenhulme purchased 1,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was purchased at an average price of $29.10 per share, for a total transaction of $29,100.00. Following the completion of the purchase, the vice president now directly owns 25,753 shares in the company, valued at $749,412.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on UFCS. Piper Sandler upgraded shares of United Fire Group from a “neutral” rating to an “overweight” rating and set a $37.00 price objective on the stock in a report on Friday, August 5th. They noted that the move was a valuation call. StockNews.com lowered United Fire Group from a “buy” rating to a “hold” rating in a research note on Friday, August 5th.

About United Fire Group

(Get Rating)

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 commercial multiple peril and inland marine insurance, as well as assumed reinsurance products.

Further Reading

Want to see what other hedge funds are holding UFCS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Fire Group, Inc. (NASDAQ:UFCSGet Rating).

Institutional Ownership by Quarter for United Fire Group (NASDAQ:UFCS)

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