State of Wyoming Has $681,000 Stock Position in United Fire Group, Inc $UFCS

Key Points

• The State of Wyoming increased its stake in United Fire Group, Inc. by 272.3% in Q1, owning 23,115 shares worth approximately $681,000 as of its latest SEC filing.
• Research firms have upgraded United Fire Group's stock to a "strong-buy" rating, with an average price target of $30.50.
• United Fire Group announced a quarterly dividend of $0.16 per share, representing a 2.1% yield for investors.

State of Wyoming increased its holdings in shares of United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 272.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,115 shares of the insurance provider's stock after purchasing an additional 16,907 shares during the period. State of Wyoming owned 0.09% of United Fire Group worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in UFCS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in United Fire Group by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,936 shares of the insurance provider's stock worth $340,000 after buying an additional 456 shares during the last quarter. Federated Hermes Inc. grew its position in shares of United Fire Group by 131.3% during the 1st quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock valued at $33,000 after buying an additional 633 shares during the last quarter. GAMMA Investing LLC raised its position 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 purchasing an additional 970 shares during the period. Point72 Asset Management L.P. grew its stake in United Fire Group by 21.2% during the 4th quarter. Point72 Asset Management L.P. now owns 6,558 shares of the insurance provider's stock worth $187,000 after buying an additional 1,147 shares during the last quarter. Finally, Deutsche Bank AG increased its position in United Fire Group by 9.0% in the fourth quarter. Deutsche Bank AG now owns 15,821 shares of the insurance provider's stock worth $450,000 after buying an additional 1,304 shares during the period. 62.68% of the stock is owned by institutional investors and hedge funds.

United Fire Group Stock Up 2.8%

NASDAQ:UFCS traded up $0.86 during trading hours on Thursday, hitting $31.30. 51,530 shares of the stock traded hands, compared to its average volume of 125,877. The firm has a market cap of $797.71 million, a price-to-earnings ratio of 8.91 and a beta of 0.57. The firm has a 50 day moving average price of $28.75 and a 200 day moving average price of $28.21. 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, Inc has a fifty-two week low of $19.19 and a fifty-two week high of $32.13.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released 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. 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%. 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 business also recently announced 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 of this dividend is Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 2.0%. United Fire Group's dividend payout ratio 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 research report on Thursday, May 15th. Zacks Research raised United Fire Group to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Jones Trading raised 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 note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, United Fire Group has an average rating of "Buy" and a consensus price target 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.