TFS Capital LLC bought a new position in shares of United Fire Group, Inc. (NASDAQ:UFCS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,204 shares of the insurance provider’s stock, valued at approximately $394,000.
Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in shares of United Fire Group by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 2,390 shares of the insurance provider’s stock worth $102,000 after buying an additional 50 shares during the period. Two Sigma Investments LP acquired a new stake in shares of United Fire Group during the fourth quarter worth $248,000. BlackRock Inc. raised its stake in shares of United Fire Group by 3.4% in the third quarter. BlackRock Inc. now owns 6,196 shares of the insurance provider’s stock worth $262,000 after buying an additional 202 shares during the period. Menta Capital LLC raised its stake in shares of United Fire Group by 10.4% in the fourth quarter. Menta Capital LLC now owns 6,367 shares of the insurance provider’s stock worth $313,000 after buying an additional 600 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of United Fire Group by 1.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,820 shares of the insurance provider’s stock worth $331,000 after buying an additional 80 shares during the period. Institutional investors own 60.23% of the company’s stock.
Shares of United Fire Group, Inc. (NASDAQ:UFCS) traded up 0.02% during mid-day trading on Friday, hitting $43.19. The stock had a trading volume of 168,437 shares. The company has a market capitalization of $1.09 billion, a P/E ratio of 23.68 and a beta of 0.40. The stock’s 50-day moving average price is $42.96 and its 200 day moving average price is $44.75. United Fire Group, Inc. has a 1-year low of $37.54 and a 1-year high of $50.75.
United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by $0.16. United Fire Group had a return on equity of 6.95% and a net margin of 6.19%. The business had revenue of $279.11 million for the quarter. On average, analysts predict that United Fire Group, Inc. will post $1.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from United Fire Group’s previous quarterly dividend of $0.25. United Fire Group’s payout ratio is 37.17%.
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Separately, Keefe, Bruyette & Woods set a $44.00 target price on United Fire Group and gave the company a “hold” rating in a research note on Monday, March 27th.
United Fire Group Company 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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