United Fire Group, Inc (NASDAQ:UFCS) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 10,805.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,152 shares of the insurance provider's stock after purchasing an additional 38,793 shares during the period. GAMMA Investing LLC owned about 0.15% of United Fire Group worth $1,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of UFCS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in United Fire Group by 5.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,251 shares of the insurance provider's stock valued at $1,031,000 after purchasing an additional 1,769 shares during the period. Squarepoint Ops LLC acquired a new stake in United Fire Group in the 4th quarter valued at $354,000. State of Wyoming acquired a new stake in United Fire Group in the 4th quarter valued at $177,000. Systematic Financial Management LP increased its holdings in United Fire Group by 13.7% in the 4th quarter. Systematic Financial Management LP now owns 552,194 shares of the insurance provider's stock worth $15,710,000 after acquiring an additional 66,561 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in United Fire Group by 21.2% during the fourth quarter. Point72 Asset Management L.P. now owns 6,558 shares of the insurance provider's stock worth $187,000 after acquiring an additional 1,147 shares during the period. Institutional investors and hedge funds own 62.68% of the company's stock.

United Fire Group Stock Performance

Shares of UFCS traded up $0.09 during trading hours on Thursday, hitting $28.57. 207,746 shares of the stock were exchanged, compared to its average volume of 126,380. The stock's 50-day moving average price is $27.92 and its two-hundred day moving average price is $27.81. United Fire Group, Inc has a 12-month low of $18.04 and a 12-month high of $31.70. The company has a market cap of $727.11 million, a price-to-earnings ratio of 11.29 and a beta of 0.51.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its earnings results on Tuesday, May 6th. The insurance provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. The business had revenue of $308.41 million during the quarter, compared to analyst estimates of $336.18 million. United Fire Group had a net margin of 5.13% and a return on equity of 9.01%. On average, research analysts expect that United Fire Group, Inc will post 2.42 earnings per share for the current year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, June 6th. United Fire Group's dividend payout ratio is currently 25.30%.

Analysts Set New Price Targets

UFCS has been the topic of several research analyst reports. Wall Street Zen upgraded shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 15th. Jones Trading reaffirmed a "buy" rating and issued a $32.00 price target on shares of United Fire Group in a research note on Monday, May 12th.

About United Fire Group

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.