United Fire Group, Inc. (NASDAQ:UFCS) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in United Fire Group, Inc. (NASDAQ:UFCS) by 126.6% during the third quarter, Holdings Channel reports. The institutional investor owned 119,324 shares of the insurance provider’s stock after buying an additional 66,676 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in United Fire Group were worth $2,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of UFCS. Empowered Funds LLC grew its holdings in United Fire Group by 5.4% in the third quarter. Empowered Funds LLC now owns 71,070 shares of the insurance provider’s stock valued at $1,487,000 after purchasing an additional 3,618 shares during the period. GSA Capital Partners LLP grew its stake in shares of United Fire Group by 12.9% during the 3rd quarter. GSA Capital Partners LLP now owns 84,851 shares of the insurance provider’s stock valued at $1,776,000 after buying an additional 9,704 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of United Fire Group by 16.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 46,710 shares of the insurance provider’s stock worth $978,000 after buying an additional 6,640 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of United Fire Group by 42.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 315,779 shares of the insurance provider’s stock worth $6,609,000 after buying an additional 93,836 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new position in United Fire Group in the third quarter valued at $761,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

United Fire Group Trading Up 0.5 %

NASDAQ:UFCS opened at $29.89 on Monday. The firm’s fifty day simple moving average is $21.79 and its 200 day simple moving average is $21.42. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $30.43. The firm has a market capitalization of $757.41 million, a price-to-earnings ratio of 15.41 and a beta of 0.37.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.60. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. The company had revenue of $322.96 million for the quarter, compared to analysts’ expectations of $306.80 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, analysts predict that United Fire Group, Inc. will post 1.84 earnings per share for the current year.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, November 29th. United Fire Group’s dividend payout ratio is presently 32.99%.

Analyst Ratings Changes

UFCS has been the topic of a number of research reports. Piper Sandler upgraded United Fire Group from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $19.00 to $26.00 in a report on Monday, November 18th. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, October 4th.

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.