Wells Fargo & Company MN decreased its position in shares of United Fire Group, Inc (NASDAQ:UFCS) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,850 shares of the insurance provider’s stock after selling 1,004 shares during the period. Wells Fargo & Company MN owned 0.51% of United Fire Group worth $5,678,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in United Fire Group during the first quarter worth approximately $145,000. Victory Capital Management Inc. raised its holdings in United Fire Group by 25.1% during the first quarter. Victory Capital Management Inc. now owns 3,544 shares of the insurance provider’s stock worth $152,000 after purchasing an additional 711 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in United Fire Group by 77.5% during the second quarter. State of Alaska Department of Revenue now owns 4,242 shares of the insurance provider’s stock worth $186,000 after purchasing an additional 1,852 shares in the last quarter. Mason Street Advisors LLC raised its holdings in United Fire Group by 7.4% during the first quarter. Mason Street Advisors LLC now owns 5,060 shares of the insurance provider’s stock worth $216,000 after purchasing an additional 350 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in United Fire Group by 11.1% during the first quarter. Stifel Financial Corp now owns 5,484 shares of the insurance provider’s stock worth $235,000 after purchasing an additional 549 shares in the last quarter. 58.23% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on UFCS shares. Sandler O’Neill raised United Fire Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $47.00 in a report on Friday, September 22nd. BidaskClub cut United Fire Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th.
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United Fire Group, Inc (UFCS) opened at 46.51 on Thursday. The firm has a 50 day moving average price of $43.48 and a 200 day moving average price of $43.49. The company has a market cap of $1.16 billion, a PE ratio of 25.54 and a beta of 0.75. United Fire Group, Inc has a 12-month low of $37.54 and a 12-month high of $50.75.
United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). United Fire Group had a net margin of 4.07% and a return on equity of 4.33%. The business had revenue of $284.30 million during the quarter. On average, analysts anticipate that United Fire Group, Inc will post $1.60 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.41%. United Fire Group’s payout ratio is presently 61.20%.
United Fire Group Profile
United Fire Group, Inc, formerly United Fire & Casualty Company, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. The Company operates in two segments: property and casualty insurance, and life insurance. The Company’s property and casualty insurance segment consists of commercial lines insurance, including surety bonds, personal lines insurance and assumed insurance.
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