Allspring Global Investments Holdings LLC Takes Position in United Fire Group, Inc (NASDAQ:UFCS)

Allspring Global Investments Holdings LLC bought a new position in United Fire Group, Inc (NASDAQ:UFCS - Free Report) in the 1st quarter, according to its most recent filing with the 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 0.07% of United Fire Group at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of United Fire Group by 4.1% in the 4th 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% in the 4th quarter. Vanguard Group Inc. now owns 1,350,237 shares of the insurance provider's stock worth $38,414,000 after buying an additional 16,588 shares during the period. Systematic Financial Management LP lifted its stake in shares of United Fire Group by 13.7% during the 4th quarter. Systematic Financial Management LP now owns 552,194 shares of the insurance provider's stock worth $15,710,000 after purchasing an additional 66,561 shares during the last quarter. Northern Trust Corp lifted its stake 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 worth $6,260,000 after purchasing an additional 2,648 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of United Fire Group by 78.6% during the 4th 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 currently owned by hedge funds and other institutional investors.

United Fire Group Stock Down 1.4%

Shares of NASDAQ UFCS traded down $0.39 during mid-day trading on Friday, reaching $27.12. 117,108 shares of the company were exchanged, compared to its average volume of 123,985. The firm has a 50-day moving average of $28.18 and a 200 day moving average of $27.53. United Fire Group, Inc has a 1 year low of $18.04 and a 1 year high of $31.70. The stock has a market cap of $690.20 million, a price-to-earnings ratio of 10.72 and a beta of 0.50.

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, beating 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 during the quarter, compared to analysts' expectations of $336.18 million. On average, equities analysts forecast that United Fire Group, Inc will post 2.42 earnings per share for the current year.

United Fire Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Friday, June 6th. United Fire Group's dividend payout ratio (DPR) is presently 25.30%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. 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 restated a "buy" rating and set a $32.00 price objective on shares of United Fire Group in a research note on Monday, May 12th.

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.