Bailard Inc. Invests $280,000 in United Fire Group, Inc (NASDAQ:UFCS)

Bailard Inc. purchased a new position in shares of United Fire Group, Inc (NASDAQ:UFCS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,500 shares of the insurance provider's stock, valued at approximately $280,000.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in United Fire Group by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider's stock worth $39,981,000 after buying an additional 55,616 shares during the period. Vanguard Group Inc. lifted its holdings in shares of United Fire Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,350,237 shares of the insurance provider's stock worth $38,414,000 after acquiring an additional 16,588 shares during the period. Systematic Financial Management LP boosted its position in shares of United Fire Group by 13.7% in the fourth quarter. Systematic Financial Management LP now owns 552,194 shares of the insurance provider's stock worth $15,710,000 after acquiring an additional 66,561 shares during the last quarter. Northern Trust Corp grew its holdings in United Fire Group by 1.2% in the fourth quarter. Northern Trust Corp now owns 220,022 shares of the insurance provider's stock valued at $6,260,000 after purchasing an additional 2,648 shares during the period. Finally, JPMorgan Chase & Co. increased its position in United Fire Group by 78.6% during the fourth quarter. JPMorgan Chase & Co. now owns 177,877 shares of the insurance provider's stock worth $5,061,000 after purchasing an additional 78,254 shares during the last quarter. 62.68% of the stock is owned by institutional investors and hedge funds.

United Fire Group Trading Down 3.3%

Shares of United Fire Group stock traded down $0.92 during trading hours on Thursday, hitting $26.90. The company's stock had a trading volume of 126,646 shares, compared to its average volume of 124,390. The business has a fifty day moving average of $28.06 and a 200 day moving average of $27.47. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.14. United Fire Group, Inc has a 1-year low of $18.04 and a 1-year high of $31.70. The company has a market capitalization of $684.61 million, a PE ratio of 10.63 and a beta of 0.50.

United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. United Fire Group had a return on equity of 9.01% and a net margin of 5.13%. The company had revenue of $308.41 million for the quarter, compared to analysts' expectations of $336.18 million. As a group, equities analysts forecast that United Fire Group, Inc will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.64 annualized dividend and a dividend yield of 2.38%. United Fire Group's dividend payout ratio (DPR) is presently 25.30%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Jones Trading reissued a "buy" rating and set a $32.00 price objective on shares of United Fire Group in a research note on Monday, May 12th. Wall Street Zen upgraded United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th.

About United Fire Group

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.