Nuveen LLC Invests $2.65 Million in United Fire Group, Inc $UFCS

Key Points

• Nuveen LLC has acquired 90,030 shares of United Fire Group, Inc valued at approximately $2.65 million, owning 0.35% of the company as of the latest SEC filing.
• United Fire Group announced a quarterly dividend of $0.16 per share, translating to an annualized dividend of $0.64 and a dividend yield of 2.1%.
• Brokerages have upgraded United Fire Group's stock to a "strong buy" rating, with a current consensus target price of $30.50 following positive quarterly earnings results.

Nuveen LLC 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 90,030 shares of the insurance provider's stock, valued at approximately $2,652,000. Nuveen LLC owned 0.35% of United Fire Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of United Fire Group by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider's stock valued at $39,981,000 after purchasing an additional 55,616 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 period. Systematic Financial Management LP boosted its stake in shares of United Fire Group by 13.7% in the fourth quarter. Systematic Financial Management LP now owns 552,194 shares of the insurance provider's stock valued at $15,710,000 after purchasing an additional 66,561 shares during the period. Northern Trust Corp boosted its stake in shares of United Fire Group by 1.2% in the fourth quarter. Northern Trust Corp now owns 220,022 shares of the insurance provider's stock valued at $6,260,000 after purchasing an additional 2,648 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of United Fire Group by 13.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 151,760 shares of the insurance provider's stock valued at $4,471,000 after purchasing an additional 18,326 shares during the period. Hedge funds and other institutional investors own 62.68% of the company's stock.

Analyst Ratings Changes

UFCS has been the subject of several recent research reports. Wall Street Zen raised shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Jones Trading lifted their price target on shares of United Fire Group from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Finally, Zacks Research upgraded shares of 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 issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, United Fire Group presently has a consensus rating of "Buy" and a consensus target price of $30.50.

United Fire Group Stock Up 0.2%

United Fire Group stock traded up $0.06 during trading on Wednesday, reaching $30.44. The stock had a trading volume of 122,693 shares, compared to its average volume of 124,701. United Fire Group, Inc has a 52-week low of $19.19 and a 52-week high of $32.13. The business has a 50 day moving average price of $28.75 and a 200 day moving average price of $28.21. 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 $775.92 million, a PE ratio of 8.67 and a beta of 0.57.

United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its quarterly earnings results 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. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. The company had revenue of $314.80 million during the quarter, compared to the consensus estimate of $337.99 million. On average, analysts predict that United Fire Group, Inc will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, August 29th. United Fire Group's 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.