Ieq Capital LLC Purchases New Position in United Fire Group, Inc $UFCS

Key Points

• Ieq Capital LLC has acquired a new stake in United Fire Group, purchasing 13,686 shares valued at approximately $403,000, representing 0.05% of the company's shares.
• Several institutional investors, including Systematic Financial Management LP and Jump Financial LLC, have increased their holdings in United Fire Group significantly during the first quarter of the year.
• United Fire Group reported an EPS of $0.90 for the last quarter, exceeding estimates, and has a dividend of $0.16 per share due on September 12th, offering a yield of 2.0%.

Ieq Capital LLC bought a new stake in 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. The institutional investor bought 13,686 shares of the insurance provider's stock, valued at approximately $403,000. Ieq Capital LLC owned approximately 0.05% of United Fire Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake 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 lifted its stake in 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 buying an additional 970 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in United Fire Group by 1,241.8% in the 1st 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 in the last quarter. CWM LLC lifted its stake in United Fire Group by 192.8% in the 1st quarter. CWM LLC now owns 5,236 shares of the insurance provider's stock valued at $154,000 after buying an additional 3,448 shares in the last quarter. Finally, State of Wyoming purchased a new stake in United Fire Group in the 4th quarter valued at approximately $177,000. Hedge funds and other institutional investors own 62.68% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on UFCS shares. Jones Trading increased their price target 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. Wall Street Zen raised United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, Zacks Research raised United Fire Group to a "strong-buy" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $30.50.

United Fire Group Trading Up 0.8%

Shares of UFCS stock traded up $0.24 on Wednesday, reaching $31.06. 103,845 shares of the stock were exchanged, compared to its average volume of 113,076. The stock has a market cap of $791.72 million, a P/E ratio of 8.85 and a beta of 0.57. 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 firm has a 50 day moving average of $29.03 and a two-hundred day moving average of $28.37. United Fire Group, Inc has a 1-year low of $19.19 and a 1-year high of $32.13.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.90 earnings per share (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 firm had revenue of $314.80 million during the quarter, compared to the consensus estimate of $337.99 million. On average, research analysts anticipate that United Fire Group, Inc will post 2.42 EPS for the current year.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, August 29th. United Fire Group's dividend payout ratio is currently 18.23%.

United Fire Group 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.