Hillsdale Investment Management Inc. Acquires 31,400 Shares of United Fire Group, Inc $UFCS

Hillsdale Investment Management Inc. lifted its holdings in shares of United Fire Group, Inc (NASDAQ:UFCS) by 16.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 227,268 shares of the insurance provider’s stock after acquiring an additional 31,400 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.89% of United Fire Group worth $6,913,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allianz Asset Management GmbH acquired a new stake in shares of United Fire Group during the 3rd quarter worth about $5,940,000. Ellsworth Advisors LLC bought a new position in United Fire Group in the 3rd quarter valued at about $777,000. Campbell & CO Investment Adviser LLC acquired a new stake in United Fire Group during the second quarter worth approximately $371,000. Inspire Investing LLC bought a new stake in shares of United Fire Group during the third quarter worth approximately $998,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of United Fire Group by 9.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,938 shares of the insurance provider’s stock valued at $4,762,000 after purchasing an additional 14,178 shares during the last quarter. 62.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on UFCS shares. Wall Street Zen raised United Fire Group from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of United Fire Group in a report on Monday, December 29th. JonesTrading upped their price target on shares of United Fire Group from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Piper Sandler raised their price target on shares of United Fire Group from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Finally, Zacks Research downgraded shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

United Fire Group Stock Performance

UFCS opened at $38.53 on Friday. The firm has a market cap of $982.90 million, a P/E ratio of 8.60 and a beta of 0.46. United Fire Group, Inc has a 52-week low of $25.01 and a 52-week high of $40.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.37 and a current ratio of 0.37. The business’s fifty day moving average is $36.56 and its 200-day moving average is $33.89.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.60. United Fire Group had a return on equity of 14.19% and a net margin of 8.52%.The business had revenue of $365.81 million during the quarter, compared to the consensus estimate of $332.34 million. Sell-side analysts expect that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, February 24th. This is a boost from United Fire Group’s previous quarterly dividend of $0.16. United Fire Group’s dividend payout ratio is presently 14.29%.

About United Fire Group

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.