EntryPoint Capital LLC Takes $330,000 Position in United Fire Group, Inc. (NASDAQ:UFCS)

EntryPoint Capital LLC purchased a new position in United Fire Group, Inc. (NASDAQ:UFCS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,589 shares of the insurance provider’s stock, valued at approximately $330,000.

Other large investors have also recently made changes to their positions in the company. Martingale Asset Management L P grew its stake in United Fire Group by 2.2% during the 3rd quarter. Martingale Asset Management L P now owns 44,090 shares of the insurance provider’s stock valued at $923,000 after acquiring an additional 947 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of United Fire Group by 82.3% in the third 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 in the last quarter. Centiva Capital LP increased its holdings in shares of United Fire Group by 21.5% in the third quarter. Centiva Capital LP now owns 12,860 shares of the insurance provider’s stock valued at $269,000 after purchasing an additional 2,278 shares during the last quarter. HighTower Advisors LLC purchased a new position in United Fire Group during the third quarter worth approximately $256,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of United Fire Group during the 3rd quarter worth $2,740,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

United Fire Group Trading Up 1.0 %

NASDAQ UFCS opened at $29.72 on Friday. The stock has a fifty day simple moving average of $26.93 and a 200-day simple moving average of $25.51. The stock has a market cap of $754.32 million, a PE ratio of 12.49 and a beta of 0.45. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $31.70.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. Research analysts predict that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 2.15%. United Fire Group’s dividend payout ratio (DPR) is presently 26.89%.

Insider Buying and Selling at United Fire Group

In other news, Director Christopher R. Drahozal sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $28.33, for a total value of $70,825.00. Following the completion of the transaction, the director now owns 441,863 shares of the company’s stock, valued at approximately $12,517,978.79. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Noyce acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $26.97 per share, with a total value of $53,940.00. Following the acquisition, the director now directly owns 27,316 shares of the company’s stock, valued at approximately $736,712.52. This represents a 7.90 % increase in their position. The disclosure for this purchase can be found here. 5.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

United Fire Group 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.