Public Sector Pension Investment Board Increases Position 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 raised its position in United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 26.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 approximately 0.27% of United Fire Group worth $1,989,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake in shares of United Fire Group by 131.3% during the first quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock worth $33,000 after buying an additional 633 shares during the period. GAMMA Investing LLC raised its holdings in shares of United Fire Group by 270.2% during the first quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock worth $39,000 after purchasing an additional 970 shares during the last quarter. NewEdge Advisors LLC purchased a new position in United Fire Group in the fourth quarter valued at $60,000. Aquatic Capital Management LLC increased its holdings in United Fire Group by 716.3% in the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock valued at $70,000 after buying an additional 2,149 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in United Fire Group by 1,241.8% in the first 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. 62.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UFCS. Jones Trading lifted their target price on shares of United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Wall Street Zen upgraded shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 15th. 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. Based on data from MarketBeat.com, United Fire Group has an average rating of "Buy" and a consensus target price of $30.50.

United Fire Group Stock Performance

NASDAQ:UFCS traded down $0.12 during trading hours on Tuesday, reaching $31.12. 82,939 shares of the company's stock were exchanged, compared to its average volume of 142,036. The firm has a market capitalization of $793.25 million, a price-to-earnings ratio of 8.87 and a beta of 0.53. 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, Inc has a 1-year low of $19.19 and a 1-year high of $32.13. The company has a 50-day moving average of $28.48 and a 200 day moving average of $28.02.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.33. The company had revenue of $314.80 million during the quarter, compared to the consensus estimate of $337.99 million. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. Research analysts anticipate that United Fire Group, Inc will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given 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 is presently 18.23%.

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.