American Century Companies Inc. Purchases 109,453 Shares of United Fire Group, Inc $UFCS

Key Points

• American Century Companies Inc. significantly increased its stake in United Fire Group, Inc by 76.5%, owning approximately 0.99% of the company, worth around $7.4 million.
• United Fire Group reported a quarterly EPS of $0.90, surpassing analysts' expectations of $0.57, although its revenue of $314.8 million fell short of the consensus estimate.
• The company announced a quarterly dividend of $0.16, yielding 2.0% annually, with a payout ratio of 18.23%.

American Century Companies Inc. lifted its holdings in United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 76.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 252,449 shares of the insurance provider's stock after purchasing an additional 109,453 shares during the quarter. American Century Companies Inc. owned 0.99% of United Fire Group worth $7,437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. grew its holdings in shares of United Fire Group by 131.3% in the first quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 633 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 purchasing an additional 970 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of United Fire Group in the fourth quarter valued at $60,000. Aquatic Capital Management LLC grew its holdings in shares of United Fire Group by 716.3% in the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock valued at $70,000 after purchasing an additional 2,149 shares in the last quarter. Finally, Farther Finance Advisors LLC grew 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 in the last quarter. 62.68% of the stock is owned by hedge funds and other institutional investors.

United Fire Group Trading Down 1.2%

Shares of NASDAQ:UFCS traded down $0.36 on Tuesday, hitting $30.38. 114,193 shares of the company's stock were exchanged, compared to its average volume of 124,701. United Fire Group, Inc has a 12 month low of $19.19 and a 12 month high of $32.13. The stock has a market capitalization of $774.39 million, a price-to-earnings ratio of 8.66 and a beta of 0.57. The business's 50 day simple moving average is $28.69 and its two-hundred day simple moving average is $28.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.37 and a quick ratio of 0.37.

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

United Fire Group Announces Dividend

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

Analyst Ratings Changes

UFCS has been the subject of several recent analyst reports. Jones Trading lifted their price objective on shares of United Fire Group from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Wall Street Zen raised shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, Zacks Research raised shares of United Fire Group to a "strong-buy" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $30.50.

United Fire Group Company 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.