Voya Investment Management LLC Buys 23,492 Shares of United Fire Group, Inc $UFCS

Voya Investment Management LLC boosted its stake in shares of United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 179.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,561 shares of the insurance provider's stock after acquiring an additional 23,492 shares during the period. Voya Investment Management LLC owned 0.14% of United Fire Group worth $1,077,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Inspire Investing LLC bought a new position in United Fire Group during the 1st quarter worth $783,000. Acadian Asset Management LLC increased its stake in United Fire Group by 22.3% during the 1st quarter. Acadian Asset Management LLC now owns 104,469 shares of the insurance provider's stock worth $3,075,000 after acquiring an additional 19,045 shares during the period. Focus Partners Wealth bought a new position in United Fire Group during the 1st quarter worth $818,000. Jane Street Group LLC increased its stake in United Fire Group by 143.5% during the 1st quarter. Jane Street Group LLC now owns 61,143 shares of the insurance provider's stock worth $1,801,000 after acquiring an additional 36,035 shares during the period. Finally, Empowered Funds LLC increased its stake in United Fire Group by 29.5% during the 1st quarter. Empowered Funds LLC now owns 96,663 shares of the insurance provider's stock worth $2,848,000 after acquiring an additional 21,999 shares during the period. Institutional investors own 62.68% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Zacks Research upgraded United Fire Group to a "strong-buy" rating in a research note on Friday, August 8th. Jones Trading lifted their price target on 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 analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, United Fire Group currently has a consensus rating of "Buy" and a consensus price target of $30.50.

United Fire Group Trading Up 0.4%

NASDAQ UFCS opened at $31.19 on Wednesday. The business's 50-day moving average price is $29.73 and its two-hundred day moving average price is $28.63. United Fire Group, Inc has a 12 month low of $19.19 and a 12 month high of $32.58. The firm has a market capitalization of $795.10 million, a PE ratio of 8.89 and a beta of 0.56. 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 data on Tuesday, August 5th. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.33. The company had revenue of $314.80 million for the quarter, compared to the consensus estimate of $337.99 million. United Fire Group had a return on equity of 11.84% and a net margin of 6.94%. On average, analysts expect that United Fire Group, Inc will post 2.42 EPS for the current year.

United Fire Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 29th. United Fire Group's payout ratio is currently 18.23%.

Insider Activity

In other news, Director John Paul E. Besong sold 2,450 shares of the business's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $32.26, for a total value of $79,037.00. Following the transaction, the director directly owned 24,494 shares of the company's stock, valued at $790,176.44. The trade was a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.12% of the stock is owned by corporate insiders.

United Fire Group 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.

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