United Fire Group, Inc $UFCS Holdings Raised by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in United Fire Group by 3.7%, now owning approximately 5.51% of the company, valued at about $41.23 million.
• United Fire Group received upgrades from Zacks Research and Jones Trading, with a current consensus rating of "Buy" and an average price target of $30.50.
• The company announced a quarterly dividend of $0.16 per share, representing an annualized dividend yield of 2.1%, to be paid out on September 12th.

Vanguard Group Inc. increased its position in United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,399,527 shares of the insurance provider's stock after purchasing an additional 49,290 shares during the quarter. Vanguard Group Inc. owned approximately 5.51% of United Fire Group worth $41,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in UFCS. Raymond James Financial Inc. purchased a new position in shares of United Fire Group in the fourth quarter worth $980,000. Barclays PLC grew its position in shares of United Fire Group by 122.4% during the fourth quarter. Barclays PLC now owns 98,712 shares of the insurance provider's stock worth $2,809,000 after purchasing an additional 54,332 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of United Fire Group during the fourth quarter worth about $60,000. Dimensional Fund Advisors LP boosted its stake in United Fire Group by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider's stock valued at $39,981,000 after buying an additional 55,616 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its stake in United Fire Group by 83.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 10,247 shares of the insurance provider's stock valued at $292,000 after buying an additional 4,666 shares during the last quarter. Hedge funds and other institutional investors own 62.68% of the company's stock.

United Fire Group Stock Performance

Shares of UFCS traded down $0.08 during mid-day trading on Monday, hitting $30.74. 141,488 shares of the company's stock were exchanged, compared to its average volume of 129,129. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $783.56 million, a P/E ratio of 8.76 and a beta of 0.56. United Fire Group, Inc has a fifty-two week low of $19.19 and a fifty-two week high of $32.13. The business's 50 day moving average is $28.66 and its two-hundred day moving average is $28.18.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its earnings results on Tuesday, August 5th. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $314.80 million during the quarter, compared to analysts' expectations of $337.99 million. On average, equities analysts expect that United Fire Group, Inc will post 2.42 earnings per share for the current year.

United Fire Group Announces Dividend

The company 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 $0.16 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.64 annualized dividend and a yield of 2.1%. United Fire Group's dividend payout ratio is 18.23%.

Analyst Ratings Changes

UFCS has been the topic of several recent analyst reports. Jones Trading increased their price target on United Fire Group from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Wall Street Zen upgraded United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th. Finally, Zacks Research upgraded 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 given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $30.50.

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.