GSA Capital Partners LLP Acquires 19,772 Shares of United Fire Group, Inc (NASDAQ:UFCS)

GSA Capital Partners LLP raised its holdings in shares of United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 51.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,296 shares of the insurance provider's stock after buying an additional 19,772 shares during the quarter. GSA Capital Partners LLP owned about 0.23% of United Fire Group worth $1,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Federated Hermes Inc. boosted its holdings in shares of United Fire Group by 131.3% in the 1st quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock worth $33,000 after purchasing an additional 633 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 purchasing 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 about $60,000. Aquatic Capital Management LLC lifted 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 valued at $70,000 after acquiring an additional 2,149 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted 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 valued at $131,000 after acquiring an additional 4,098 shares during the last quarter. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on UFCS shares. Jones Trading reissued a "buy" rating and issued a $32.00 target price on shares of United Fire Group in a research note on Monday, May 12th. Wall Street Zen raised United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th.

United Fire Group Trading Down 1.7%

Shares of NASDAQ UFCS traded down $0.44 during midday trading on Friday, reaching $26.11. The company had a trading volume of 102,768 shares, compared to its average volume of 126,199. United Fire Group, Inc has a one year low of $18.04 and a one year high of $31.70. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.14. The firm's fifty day moving average price is $27.93 and its 200-day moving average price is $27.49. The stock has a market cap of $664.50 million, a PE ratio of 10.32 and a beta of 0.50.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The business had revenue of $308.41 million during the quarter, compared to analyst estimates of $336.18 million. United Fire Group had a return on equity of 9.01% and a net margin of 5.13%. On average, equities research analysts anticipate that United Fire Group, Inc will post 2.42 earnings per share for the current year.

United Fire Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.64 dividend on an annualized basis and a yield of 2.5%. United Fire Group's dividend payout ratio is presently 25.30%.

About United Fire Group

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.