Brandywine Global Investment Management LLC Makes New $409,000 Investment in 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 acquired a new stake in shares of United Fire Group, Inc (NASDAQ:UFCS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 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.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. increased 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 during the period. GAMMA Investing LLC increased its stake in shares of United Fire Group by 270.2% in the 1st 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 stake in United Fire Group in the 4th quarter worth $60,000. Aquatic Capital Management LLC increased its stake in 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 buying an additional 2,149 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake 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 worth $131,000 after buying an additional 4,098 shares in the last quarter. Hedge funds and other institutional investors own 62.68% of the company's stock.

United Fire Group Stock Down 1.0%

Shares of United Fire Group stock traded down $0.32 during trading hours on Monday, hitting $31.43. The company had a trading volume of 24,641 shares, compared to its average volume of 126,524. The company's 50-day moving average is $28.37 and its two-hundred day moving average is $27.95. 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, Inc has a twelve month low of $19.19 and a twelve month high of $32.13. The company has a market cap of $801.15 million, a P/E ratio of 8.96 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its earnings results 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. United Fire Group had a return on equity of 11.84% and a net margin of 6.94%.The company had revenue of $314.80 million for the quarter, compared to the consensus estimate of $337.99 million. Analysts anticipate that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jones Trading raised their target price on United Fire Group from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Zacks Research upgraded United Fire Group to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. 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 MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target 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.