Connor Clark & Lunn Investment Management Ltd. Has $4.76 Million Stock Position in United Fire Group, Inc $UFCS

Connor Clark & Lunn Investment Management Ltd. increased its stake in United Fire Group, Inc (NASDAQ:UFCS) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,938 shares of the insurance provider’s stock after purchasing an additional 14,178 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in United Fire Group were worth $4,762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of UFCS. Los Angeles Capital Management LLC increased its position in shares of United Fire Group by 28.3% in the second quarter. Los Angeles Capital Management LLC now owns 45,602 shares of the insurance provider’s stock worth $1,309,000 after acquiring an additional 10,055 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in United Fire Group by 10.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 62,794 shares of the insurance provider’s stock worth $1,802,000 after purchasing an additional 5,875 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in United Fire Group in the 2nd quarter worth approximately $1,589,000. AlphaQuest LLC purchased a new position in United Fire Group during the 2nd quarter worth approximately $178,000. Finally, R Squared Ltd acquired a new stake in United Fire Group during the 2nd quarter valued at $225,000. 62.68% of the stock is owned by hedge funds and other institutional investors.

United Fire Group Price Performance

Shares of NASDAQ:UFCS opened at $36.65 on Friday. The firm has a market cap of $935.09 million, a price-to-earnings ratio of 10.44 and a beta of 0.49. United Fire Group, Inc has a 1 year low of $24.11 and a 1 year high of $37.33. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $31.63 and a 200 day simple moving average of $29.61.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.81. United Fire Group had a return on equity of 11.84% and a net margin of 6.94%.The company had revenue of $354.02 million for the quarter, compared to analyst estimates of $354.46 million. As a group, sell-side analysts predict that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on UFCS shares. Weiss Ratings raised United Fire Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, November 7th. Zacks Research downgraded United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Jones Trading raised their price objective on United Fire Group from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wall Street Zen downgraded United Fire Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Activity at United Fire Group

In related news, Director John Paul E. Besong sold 2,450 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $32.26, for a total value of $79,037.00. Following the transaction, the director owned 24,494 shares in the company, valued at approximately $790,176.44. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.12% of the company’s stock.

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.