Advisor Group Holdings Inc. increased its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 33.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,480 shares of the insurance provider’s stock after buying an additional 1,116 shares during the period. Advisor Group Holdings Inc.’s holdings in United Fire Group were worth $123,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in UFCS. Bank of Montreal Can increased its holdings in United Fire Group by 172.6% in the second quarter. Bank of Montreal Can now owns 3,001 shares of the insurance provider’s stock valued at $74,000 after buying an additional 1,900 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in United Fire Group by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 311,450 shares of the insurance provider’s stock worth $8,630,000 after acquiring an additional 7,529 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in United Fire Group by 11.2% during the second quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the insurance provider’s stock valued at $148,000 after purchasing an additional 534 shares in the last quarter. Swiss National Bank grew its position in shares of United Fire Group by 15.6% in the second quarter. Swiss National Bank now owns 47,500 shares of the insurance provider’s stock valued at $1,316,000 after purchasing an additional 6,400 shares during the period. Finally, WINTON GROUP Ltd lifted its stake in United Fire Group by 526.1% in the 2nd quarter. WINTON GROUP Ltd now owns 47,887 shares of the insurance provider’s stock valued at $1,327,000 after buying an additional 40,239 shares in the last quarter. Institutional investors own 60.67% of the company’s stock.
Several brokerages recently commented on UFCS. BidaskClub downgraded United Fire Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 2nd. Zacks Investment Research upgraded shares of United Fire Group from a “sell” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Saturday, September 5th. Finally, Sidoti cut their price objective on shares of United Fire Group from $31.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.67.
Shares of UFCS stock traded down $0.15 during trading hours on Friday, hitting $21.26. The stock had a trading volume of 47,359 shares, compared to its average volume of 76,982. The firm has a market capitalization of $532.16 million and a PE ratio of -5.78. The stock’s 50 day moving average is $22.63 and its 200 day moving average is $26.61. United Fire Group, Inc. has a twelve month low of $19.17 and a twelve month high of $47.67.
United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Wednesday, August 5th. The insurance provider reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.01. The firm had revenue of $297.80 million for the quarter, compared to analysts’ expectations of $285.10 million. United Fire Group had a negative return on equity of 4.64% and a negative net margin of 8.63%. On average, research analysts expect that United Fire Group, Inc. will post -0.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $1.32 annualized dividend and a yield of 6.21%. United Fire Group’s dividend payout ratio (DPR) is currently -122.22%.
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, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners.
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