Systematic Financial Management LP Has $17.19 Million Holdings in United Fire Group, Inc $UFCS

Key Points

• Systematic Financial Management LP has increased its stake in United Fire Group by 5.6%, owning 583,334 shares valued at approximately $17.2 million.
• Several institutional investors have also added positions in United Fire Group, with 62.68% of shares currently held by such investors.
• The company announced a quarterly dividend of $0.16 per share, yielding about 2.0%, with a payout ratio of 18.23%.

Systematic Financial Management LP increased its stake in shares of United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 583,334 shares of the insurance provider's stock after buying an additional 31,140 shares during the period. Systematic Financial Management LP owned 2.29% of United Fire Group worth $17,185,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of United Fire Group during the 1st quarter worth about $559,000. Teacher Retirement System of Texas boosted its holdings in shares of United Fire Group by 7.9% during the 1st quarter. Teacher Retirement System of Texas now owns 56,919 shares of the insurance provider's stock worth $1,677,000 after buying an additional 4,148 shares during the period. GAMMA Investing LLC boosted its holdings in shares of United Fire Group by 270.2% during 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 during the period. Sierra Summit Advisors LLC bought a new stake in shares of United Fire Group during the 1st quarter worth about $737,000. Finally, Barclays PLC boosted its holdings in shares of United Fire Group by 122.4% during the 4th quarter. Barclays PLC now owns 98,712 shares of the insurance provider's stock worth $2,809,000 after buying an additional 54,332 shares during the period. Institutional investors own 62.68% of the company's stock.

United Fire Group Price Performance

United Fire Group stock traded down $0.12 during mid-day trading on Tuesday, reaching $31.12. The company had a trading volume of 82,939 shares, compared to its average volume of 142,036. The business has a fifty day simple moving average of $28.48 and a 200 day simple moving average of $28.02. The company has a market cap of $793.25 million, a P/E ratio of 8.87 and a beta of 0.53. United Fire Group, Inc has a fifty-two week low of $19.19 and a fifty-two week high of $32.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.14.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.90 EPS for the quarter, beating 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 firm had revenue of $314.80 million for the quarter, compared to analyst estimates of $337.99 million. On average, equities research analysts predict that United Fire Group, Inc will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, August 29th. United Fire Group's dividend payout ratio is 18.23%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UFCS. Jones Trading boosted their price objective on shares of United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a report on Monday, August 11th. Wall Street Zen raised shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th. Finally, Zacks Research raised shares of United Fire Group to a "strong-buy" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus 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.