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

Several other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in shares of United Fire Group in the fourth quarter worth about $223,000. Northern Trust Corp boosted its holdings in shares of United Fire Group by 1.2% during the 4th quarter. Northern Trust Corp now owns 220,022 shares of the insurance provider's stock valued at $6,260,000 after buying an additional 2,648 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in United Fire Group by 48.5% in the fourth quarter. BNP Paribas Financial Markets now owns 12,622 shares of the insurance provider's stock worth $359,000 after purchasing an additional 4,124 shares during the period. D. E. Shaw & Co. Inc. increased its position in United Fire Group by 21.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 85,639 shares of the insurance provider's stock valued at $2,436,000 after buying an additional 15,016 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in United Fire Group by 9.0% in the 4th quarter. Deutsche Bank AG now owns 15,821 shares of the insurance provider's stock worth $450,000 after purchasing an additional 1,304 shares in the last quarter. Hedge funds and other institutional investors own 62.68% of the company's stock.

United Fire Group Stock Performance

Shares of UFCS stock opened at $31.82 on Tuesday. The firm has a market cap of $811.09 million, a price-to-earnings ratio of 9.07 and a beta of 0.56. United Fire Group, Inc has a 52-week low of $19.19 and a 52-week high of $32.22. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.14. The company's 50 day moving average is $29.26 and its 200 day moving average is $28.49.

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

United Fire Group Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently commented on UFCS shares. Zacks Research upgraded shares of United Fire Group to a "strong-buy" rating in a research note on Friday, August 8th. Jones Trading boosted their price target on United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, United Fire Group has a consensus rating of "Buy" and a consensus target price 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.

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