Charles Schwab Investment Management Inc. Sells 49,342 Shares of United Fire Group, Inc $UFCS

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in United Fire Group by 20.9%, now holding 186,466 shares valued at approximately $5.5 million.
• Various institutional investors, including Allspring Global Investments and Teacher Retirement System of Texas, have also made changes to their positions in United Fire Group, highlighting a growing interest in the company.
• Analysts have recently increased the price targets for United Fire Group, with consensus ratings indicating a Buy status and a target price of **$30.50**.

Charles Schwab Investment Management Inc. trimmed its position in United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 20.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,466 shares of the insurance provider's stock after selling 49,342 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.73% of United Fire Group worth $5,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in United Fire Group by 131.3% in the 1st quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock valued at $33,000 after buying an additional 633 shares in the last quarter. GAMMA Investing LLC boosted its stake in United Fire Group by 270.2% during 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 during the last quarter. NewEdge Advisors LLC acquired a new position in United Fire Group during the 4th quarter valued at about $60,000. Aquatic Capital Management LLC boosted 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 valued at $70,000 after purchasing an additional 2,149 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in United Fire Group by 1,241.8% during the 1st 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 during the last quarter. 62.68% of the stock is owned by institutional investors.

United Fire Group Stock Performance

United Fire Group stock traded down $0.08 during trading on Monday, hitting $30.74. The stock had a trading volume of 141,488 shares, compared to its average volume of 129,129. United Fire Group, Inc has a 1 year low of $19.19 and a 1 year high of $32.13. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.14. The stock's 50 day moving average is $28.62 and its two-hundred day moving average is $28.15. The stock has a market cap of $783.56 million, a price-to-earnings ratio of 8.76 and a beta of 0.56.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.90 EPS 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 business had revenue of $314.80 million for the quarter, compared to the consensus estimate of $337.99 million. As a group, analysts predict that United Fire Group, Inc will post 2.42 EPS for the current 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 paid a $0.16 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.64 annualized dividend and a yield of 2.1%. United Fire Group's dividend payout ratio is presently 18.23%.

Analyst Ratings Changes

A number of equities analysts have issued reports 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. Zacks Research upgraded United Fire Group to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Jones Trading boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average 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.