SG Americas Securities LLC decreased its stake in United Fire Group, Inc. (NASDAQ:UFCS – Get Rating) by 37.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 14,965 shares of the insurance provider’s stock after selling 8,929 shares during the quarter. SG Americas Securities LLC’s holdings in United Fire Group were worth $465,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Advisor Partners LLC lifted its stake in United Fire Group by 18.6% in the 1st quarter. Advisor Partners LLC now owns 10,289 shares of the insurance provider’s stock valued at $320,000 after purchasing an additional 1,611 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of United Fire Group by 3.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 65,334 shares of the insurance provider’s stock valued at $1,515,000 after acquiring an additional 2,052 shares during the last quarter. KBC Group NV raised its stake in shares of United Fire Group by 37.2% during the fourth quarter. KBC Group NV now owns 10,437 shares of the insurance provider’s stock valued at $242,000 after acquiring an additional 2,832 shares during the last quarter. CWM LLC bought a new position in shares of United Fire Group during the fourth quarter valued at $124,000. Finally, Maryland State Retirement & Pension System bought a new position in shares of United Fire Group during the first quarter valued at $269,000. Institutional investors own 60.65% of the company’s stock.
Analyst Ratings Changes
UFCS has been the subject of several analyst reports. Piper Sandler raised shares of United Fire Group from a “neutral” rating to an “overweight” rating and set a $37.00 price target for the company in a research note on Friday. They noted that the move was a valuation call. TheStreet downgraded shares of United Fire Group from a “b-” rating to a “c” rating in a research note on Thursday, May 5th. Finally, StockNews.com downgraded shares of United Fire Group from a “buy” rating to a “hold” rating in a research note on Friday.
Insiders Place Their Bets
United Fire Group Stock Up 10.0 %
Shares of NASDAQ UFCS opened at $27.81 on Friday. United Fire Group, Inc. has a twelve month low of $19.85 and a twelve month high of $37.26. The firm has a fifty day simple moving average of $32.85 and a 200 day simple moving average of $29.97. The company has a market capitalization of $698.78 million, a PE ratio of 7.81 and a beta of 0.01.
United Fire Group (NASDAQ:UFCS – Get Rating) last announced its earnings results on Thursday, May 5th. The insurance provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.47. The business had revenue of $245.01 million during the quarter, compared to the consensus estimate of $246.30 million. United Fire Group had a net margin of 8.93% and a return on equity of 8.61%. During the same quarter last year, the firm earned ($0.03) earnings per share. As a group, equities analysts expect that United Fire Group, Inc. will post 2.47 earnings per share for the current fiscal year.
United Fire Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.30%. This is a boost from United Fire Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, June 2nd. United Fire Group’s dividend payout ratio (DPR) is presently 17.98%.
United Fire Group Company 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 commercial multiple peril and inland marine insurance, as well as assumed reinsurance products.
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