Public Sector Pension Investment Board Boosts Stock Holdings in United Fire Group, Inc $UFCS

Key Points

• The Public Sector Pension Investment Board increased its holdings in United Fire Group, Inc. by 26.6% during the first quarter, now owning 67,508 shares valued at approximately $1.99 million.
• United Fire Group reported $0.90 earnings per share for the last quarter, significantly exceeding analysts' expectations of $0.57, despite revenues coming in below estimates at $314.80 million.
• A quarterly dividend of $0.16 per share will be paid on September 12th, providing a 2.1% yield, with a dividend payout ratio of 18.23%.

Public Sector Pension Investment Board boosted its stake in shares of United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 26.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,508 shares of the insurance provider's stock after acquiring an additional 14,200 shares during the period. Public Sector Pension Investment Board owned 0.27% of United Fire Group worth $1,989,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. grew its stake in United Fire Group by 131.3% during the first quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 633 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of United Fire Group by 270.2% in the 1st quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock worth $39,000 after buying an additional 970 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of United Fire Group in the 4th quarter worth $60,000. Aquatic Capital Management LLC grew its stake in shares of United Fire Group by 716.3% in the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock worth $70,000 after buying an additional 2,149 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of 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 worth $131,000 after buying an additional 4,098 shares in the last quarter. 62.68% of the stock is owned by hedge funds and other institutional investors.

United Fire Group Trading Up 2.0%

Shares of UFCS opened at $31.16 on Thursday. United Fire Group, Inc has a 1-year low of $19.19 and a 1-year high of $31.70. The company has a 50-day moving average of $28.23 and a 200 day moving average of $27.83. The firm has a market capitalization of $794.33 million, a price-to-earnings ratio of 8.88 and a beta of 0.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.37 and a quick ratio of 0.37.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.90 earnings per share for the quarter, beating 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 analyst estimates of $337.99 million. On average, research analysts expect 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. Investors of record on Friday, August 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 2.1%. United Fire Group's dividend payout ratio (DPR) is presently 18.23%.

Analysts Set New Price Targets

A number of equities analysts have commented on UFCS shares. 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 raised their target price on shares of United Fire Group from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Finally, Zacks Research upgraded shares of United Fire Group to a "strong-buy" rating in a report on Friday, August 8th. One 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. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus 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.

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