Allspring Global Investments Holdings LLC Makes New Investment in United Fire Group, Inc (NASDAQ:UFCS)

Allspring Global Investments Holdings LLC bought a new stake in United Fire Group, Inc (NASDAQ:UFCS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 18,863 shares of the insurance provider's stock, valued at approximately $559,000. Allspring Global Investments Holdings LLC owned approximately 0.07% of United Fire Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 970 shares during the period. NewEdge Advisors LLC bought a new stake in United Fire Group in the 4th quarter valued at about $60,000. Aquatic Capital Management LLC raised its stake in United Fire Group by 716.3% in the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock valued at $70,000 after acquiring an additional 2,149 shares during the period. Globeflex Capital L P purchased a new stake in United Fire Group during the fourth quarter valued at about $119,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of United Fire Group in the fourth quarter worth about $131,000. 62.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UFCS has been the topic of a number of analyst reports. Wall Street Zen raised shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th. Jones Trading reissued a "buy" rating and set a $32.00 price objective on shares of United Fire Group in a report on Monday, May 12th.

United Fire Group Trading Up 0.7%

Shares of UFCS opened at $27.79 on Thursday. United Fire Group, Inc has a 12-month low of $18.04 and a 12-month high of $31.70. The company has a market cap of $707.26 million, a PE ratio of 10.98 and a beta of 0.50. The stock has a 50-day moving average price of $28.22 and a 200-day moving average price of $27.56.

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

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Friday, June 6th. United Fire Group's dividend payout ratio (DPR) is currently 25.30%.

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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