Dynamic Technology Lab Private Ltd Invests $389,000 in United Fire Group, Inc $UFCS

Key Points

• Dynamic Technology Lab Private Ltd has acquired 13,210 shares of United Fire Group, Inc. (NASDAQ:UFCS), valued at approximately $389,000, representing about 0.05% of the company's total shares.
• Brokerages have upgraded United Fire Group's stock rating, with Jones Trading raising the target price from $32.00 to $33.00 and multiple analysts issuing a "strong-buy" rating.
• The company announced a quarterly dividend of $0.16, yielding 2.0%, with payment scheduled for September 12th to stockholders of record as of August 29th.

Dynamic Technology Lab Private Ltd acquired a new stake in United Fire Group, Inc (NASDAQ:UFCS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 13,210 shares of the insurance provider's stock, valued at approximately $389,000. Dynamic Technology Lab Private Ltd owned about 0.05% of United Fire Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in United Fire Group in the first quarter valued at approximately $559,000. Teacher Retirement System of Texas lifted its position in United Fire Group by 7.9% in the first quarter. Teacher Retirement System of Texas now owns 56,919 shares of the insurance provider's stock valued at $1,677,000 after purchasing an additional 4,148 shares during the last quarter. Quantbot Technologies LP lifted its position in United Fire Group by 859.3% in the first quarter. Quantbot Technologies LP now owns 8,797 shares of the insurance provider's stock valued at $259,000 after purchasing an additional 7,880 shares during the last quarter. GAMMA Investing LLC lifted its position in 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 during the last quarter. Finally, Vanguard Group Inc. lifted its position in United Fire Group by 3.7% in the first quarter. Vanguard Group Inc. now owns 1,399,527 shares of the insurance provider's stock valued at $41,230,000 after purchasing an additional 49,290 shares during the last quarter. Institutional investors own 62.68% of the company's stock.

United Fire Group Trading Down 1.3%

Shares of United Fire Group stock traded down $0.43 during midday trading on Friday, reaching $31.65. 94,536 shares of the company's stock traded hands, compared to its average volume of 115,967. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $806.76 million, a PE ratio of 9.02 and a beta of 0.57. The stock has a 50 day moving average of $29.18 and a 200-day moving average of $28.47. United Fire Group, Inc has a 12 month low of $19.19 and a 12 month high of $32.22.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.33. The business 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%. As a group, equities analysts expect 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 was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were issued a $0.16 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 2.0%. United Fire Group's dividend payout ratio is 18.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on UFCS shares. Jones Trading upped their target price on United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a report on Monday, August 11th. Zacks Research upgraded United Fire Group to a "strong-buy" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, United Fire Group currently 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.