United Fire Group, Inc $UFCS Shares Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in United Fire Group by 20.3%, owning 128,057 shares valued at approximately $3.77 million.
• United Fire Group's recent quarterly earnings exceeded analysts' expectations, reporting $0.90 earnings per share, surpassing estimates of $0.57.
• The company will pay a quarterly dividend of $0.16 on September 12th, representing a yield of 2.1%.

Jacobs Levy Equity Management Inc. lifted its stake in United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 20.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 128,057 shares of the insurance provider's stock after purchasing an additional 21,571 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.50% of United Fire Group worth $3,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in United Fire Group by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 1,399,527 shares of the insurance provider's stock valued at $41,230,000 after acquiring an additional 49,290 shares during the period. Systematic Financial Management LP boosted its holdings in United Fire Group by 5.6% during the 1st quarter. Systematic Financial Management LP now owns 583,334 shares of the insurance provider's stock valued at $17,185,000 after acquiring an additional 31,140 shares during the period. American Century Companies Inc. boosted its holdings in United Fire Group by 76.5% during the 1st quarter. American Century Companies Inc. now owns 252,449 shares of the insurance provider's stock valued at $7,437,000 after acquiring an additional 109,453 shares during the period. Northern Trust Corp boosted its holdings in United Fire Group by 1.2% during the 4th quarter. Northern Trust Corp now owns 220,022 shares of the insurance provider's stock valued at $6,260,000 after acquiring an additional 2,648 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in United Fire Group by 79.6% during the 1st quarter. AQR Capital Management LLC now owns 188,758 shares of the insurance provider's stock valued at $5,561,000 after acquiring an additional 83,654 shares during the period. Hedge funds and other institutional investors own 62.68% of the company's stock.

United Fire Group Stock Up 0.5%

Shares of NASDAQ UFCS traded up $0.15 during mid-day trading on Monday, reaching $31.80. 17,255 shares of the company were exchanged, compared to its average volume of 125,258. 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 has a market cap of $810.52 million, a price-to-earnings ratio of 9.06 and a beta of 0.57. United Fire Group, Inc has a 1 year low of $19.19 and a 1 year high of $32.22. The firm has a 50-day moving average of $29.18 and a 200 day moving average of $28.47.

United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.33. The firm had revenue of $314.80 million during the quarter, compared to analysts' expectations of $337.99 million. United Fire Group had a return on equity of 11.84% and a net margin of 6.94%. 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 disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were 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 was Friday, August 29th. United Fire Group's dividend payout ratio is 18.23%.

Wall Street Analyst Weigh In

UFCS has been the subject of a number of recent analyst reports. Zacks Research upgraded United Fire Group to a "strong-buy" rating in a report on Friday, August 8th. Jones Trading boosted their price objective on United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a report on Monday, August 11th. One equities research 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's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $30.50.

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.