Algert Global LLC Makes New Investment in United Fire Group, Inc $UFCS

Key Points

• Algert Global LLC acquired a new stake in United Fire Group, Inc., purchasing 41,549 shares valued at approximately $1.2 million in the first quarter.
• United Fire Group reported $0.90 earnings per share for its latest quarter, exceeding analysts' expectations of $0.57, though revenue of $314.80 million was below the consensus estimate.
• The firm declared a quarterly dividend of $0.16, implying an annualized dividend of $0.64 and a yield of 2.0%, which will be paid to shareholders on September 12th.

Algert Global LLC purchased a new stake in United Fire Group, Inc (NASDAQ:UFCS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 41,549 shares of the insurance provider's stock, valued at approximately $1,224,000. Algert Global LLC owned 0.16% of United Fire Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. boosted its stake 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 worth $33,000 after purchasing an additional 633 shares during the period. GAMMA Investing LLC lifted its stake in United Fire Group by 270.2% in the first quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 970 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in United Fire Group in the 4th quarter valued at about $60,000. Aquatic Capital Management LLC boosted its stake in shares of United Fire Group by 716.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock worth $70,000 after acquiring an additional 2,149 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of United Fire Group by 1,241.8% in the first quarter. Farther Finance Advisors LLC now owns 4,428 shares of the insurance provider's stock valued at $131,000 after purchasing an additional 4,098 shares during the last quarter. 62.68% of the stock is currently owned by institutional investors and hedge funds.

United Fire Group Stock Down 0.8%

Shares of NASDAQ UFCS traded down $0.26 during trading on Thursday, hitting $30.97. 10,880 shares of the company traded hands, compared to its average volume of 125,981. The business's fifty day moving average is $28.53 and its 200 day moving average is $28.04. The firm has a market capitalization of $789.43 million, a price-to-earnings ratio of 8.82 and a beta of 0.53. 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, Inc has a fifty-two week low of $19.19 and a fifty-two week high of $32.13.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.90 EPS for the quarter, beating 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 firm had revenue of $314.80 million during the quarter, compared to the consensus estimate of $337.99 million. Equities research analysts predict that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 29th. United Fire Group's payout ratio is currently 18.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on UFCS. Wall Street Zen upgraded United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Jones Trading lifted their price objective on shares of United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Finally, Zacks Research raised shares of United Fire Group to a "strong-buy" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average 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.