Brandywine Global Investment Management LLC Buys Shares of 13,870 United Fire Group, Inc $UFCS

Key Points

• Brandywine Global Investment Management LLC has acquired approximately 13,870 shares of United Fire Group, valued at around $409,000, indicating growing institutional interest in the company.
• Investment analysts have upgraded United Fire Group to a "strong-buy" rating, with a consensus target price of $30.50.
• United Fire Group also announced a quarterly dividend of $0.16 per share, representing an annualized yield of 2.1%.

Brandywine Global Investment Management LLC bought a new position in United Fire Group, Inc (NASDAQ:UFCS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,870 shares of the insurance provider's stock, valued at approximately $409,000. Brandywine Global Investment Management LLC owned approximately 0.05% of United Fire Group at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in UFCS. Federated Hermes Inc. grew its position in United Fire Group by 131.3% during 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 in the last quarter. GAMMA Investing LLC boosted its position 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 worth $39,000 after buying an additional 970 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of United Fire Group in the fourth quarter worth $60,000. Aquatic Capital Management LLC grew its holdings in shares of United Fire Group by 716.3% during the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock valued at $70,000 after buying an additional 2,149 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in United Fire Group by 1,241.8% during the first quarter. Farther Finance Advisors LLC now owns 4,428 shares of the insurance provider's stock valued at $131,000 after buying an additional 4,098 shares during the period. Hedge funds and other institutional investors own 62.68% of the company's stock.

United Fire Group Stock Down 1.6%

Shares of United Fire Group stock traded down $0.51 during trading on Monday, hitting $31.24. 141,490 shares of the stock traded hands, compared to its average volume of 140,927. The stock has a market cap of $796.31 million, a P/E ratio of 8.90 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 twelve month low of $19.19 and a twelve month high of $32.13. The company has a fifty day moving average price of $28.43 and a two-hundred day moving average price of $28.00.

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, topping analysts' consensus estimates of $0.57 by $0.33. The firm had revenue of $314.80 million for 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%. Equities research analysts predict that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.0%. United Fire Group's dividend payout ratio (DPR) is currently 18.23%.

Analysts Set New Price Targets

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