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

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 126.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 119,324 shares of the insurance provider’s stock after purchasing an additional 66,676 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.47% of United Fire Group worth $2,497,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in UFCS. Innealta Capital LLC acquired a new position in United Fire Group during the second quarter worth approximately $65,000. Lion Street Advisors LLC acquired a new stake in United Fire Group during the 2nd quarter worth $201,000. Janus Henderson Group PLC purchased a new position in United Fire Group during the 1st quarter worth $202,000. XTX Topco Ltd acquired a new position in United Fire Group in the second quarter valued at $213,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of United Fire Group in the second quarter valued at about $223,000. 62.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

United Fire Group Stock Performance

UFCS stock opened at $29.89 on Monday. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $30.43. The company has a fifty day moving average of $21.79 and a 200-day moving average of $21.42. The stock has a market capitalization of $757.41 million, a PE ratio of 15.41 and a beta of 0.37.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 EPS. Equities analysts forecast that United Fire Group, Inc. will post 1.84 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

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

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.