90,030 Shares in United Fire Group, Inc $UFCS Purchased by Nuveen LLC

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 position in United Fire Group, Inc (NASDAQ:UFCS - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of United Fire Group by 4.1% during 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 buying an additional 55,616 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of United Fire Group by 3.7% during the first 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 in the last quarter. Systematic Financial Management LP increased its holdings in shares of United Fire Group by 13.7% during the fourth quarter. Systematic Financial Management LP now owns 552,194 shares of the insurance provider's stock valued at $15,710,000 after acquiring an additional 66,561 shares in the last quarter. Northern Trust Corp increased its holdings in United Fire Group by 1.2% in the 4th quarter. Northern Trust Corp now owns 220,022 shares of the insurance provider's stock worth $6,260,000 after buying an additional 2,648 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in United Fire Group by 13.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 151,760 shares of the insurance provider's stock worth $4,471,000 after buying an additional 18,326 shares during the period. 62.68% of the stock is owned by hedge funds and other institutional investors.

United Fire Group Trading Down 0.3%

Shares of UFCS traded down $0.08 during midday trading on Friday, reaching $30.74. The company had a trading volume of 141,488 shares, compared to its average volume of 127,193. United Fire Group, Inc has a 1-year low of $19.19 and a 1-year high of $32.13. The stock has a market cap of $783.56 million, a PE ratio of 8.76 and a beta of 0.53. The firm has a 50 day simple moving average of $28.62 and a 200-day simple moving average of $28.15. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.14.

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

United Fire Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 29th. United Fire Group's dividend payout ratio (DPR) is presently 18.23%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UFCS. Wall Street Zen upgraded shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th. Zacks Research upgraded United Fire Group to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Jones Trading increased their target price on United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price 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.