Acadian Asset Management LLC Grows Position in United Fire Group, Inc $UFCS

Key Points

• Acadian Asset Management LLC increased its stake in United Fire Group by 22.3% during Q1, acquiring an additional 19,045 shares, bringing its total ownership to 104,469 shares valued at approximately $3.08 million.
• United Fire Group reported earnings of $0.90 per share for the last quarter, significantly exceeding analyst estimates of $0.57, although revenue fell short of expectations at $314.80 million.
• The company declared a quarterly dividend of $0.16 per share, with an annualized yield of 2.0% and a payout ratio of 18.23%.

Acadian Asset Management LLC boosted its position in United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 22.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,469 shares of the insurance provider's stock after acquiring an additional 19,045 shares during the quarter. Acadian Asset Management LLC owned 0.41% of United Fire Group worth $3,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in United Fire Group by 17.7% in the first quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider's stock valued at $74,000 after buying an additional 375 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of United Fire Group by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,936 shares of the insurance provider's stock valued at $340,000 after purchasing an additional 456 shares during the period. Federated Hermes Inc. boosted its position in United Fire Group by 131.3% in the 1st quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock valued at $33,000 after buying an additional 633 shares during the last quarter. GAMMA Investing LLC raised its position in shares of United Fire Group by 270.2% in the 1st quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 970 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of United Fire Group by 21.2% during the fourth quarter. Point72 Asset Management L.P. now owns 6,558 shares of the insurance provider's stock worth $187,000 after buying an additional 1,147 shares in the last quarter. 62.68% of the stock is currently owned by institutional investors and hedge funds.

United Fire Group Stock Performance

Shares of NASDAQ:UFCS traded down $1.21 during trading on Friday, hitting $31.29. 336,462 shares of the stock were exchanged, compared to its average volume of 110,255. The company's fifty day simple moving average is $29.59 and its 200-day simple moving average is $28.59. The company has a market capitalization of $797.58 million, a price-to-earnings ratio of 8.91 and a beta of 0.57. United Fire Group, Inc has a 1-year low of $19.19 and a 1-year high of $32.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.37 and a current ratio of 0.37.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.57 by $0.33. United Fire Group had a return on equity of 11.84% and a net margin of 6.94%.The company had revenue of $314.80 million for the quarter, compared to analysts' expectations of $337.99 million. Sell-side analysts expect that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid a $0.16 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.64 annualized dividend and a yield of 2.0%. United Fire Group's dividend payout ratio is currently 18.23%.

Insider Activity

In related news, Director John Paul E. Besong sold 2,450 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $32.26, for a total value of $79,037.00. Following the transaction, the director owned 24,494 shares in the company, valued at approximately $790,176.44. This represents a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on UFCS shares. Jones Trading upped their price target on United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Zacks Research raised United Fire Group to a "strong-buy" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $30.50.

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; 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.