Wilmington Savings Fund Society FSB Takes Position in United Fire Group, Inc. (NASDAQ:UFCS)

Wilmington Savings Fund Society FSB bought a new position in United Fire Group, Inc. (NASDAQ:UFCS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,477 shares of the insurance provider’s stock, valued at approximately $575,000. Wilmington Savings Fund Society FSB owned 0.11% of United Fire Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in United Fire Group in the second quarter valued at $4,770,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of United Fire Group in the 3rd quarter worth about $2,740,000. Marshall Wace LLP boosted its stake in shares of United Fire Group by 929.0% during the 2nd quarter. Marshall Wace LLP now owns 99,842 shares of the insurance provider’s stock valued at $2,146,000 after purchasing an additional 90,139 shares in the last quarter. Foundry Partners LLC increased its position in shares of United Fire Group by 71.9% during the third quarter. Foundry Partners LLC now owns 178,155 shares of the insurance provider’s stock valued at $3,729,000 after buying an additional 74,540 shares during the period. Finally, Millennium Management LLC raised its stake in United Fire Group by 40.8% in the second quarter. Millennium Management LLC now owns 234,214 shares of the insurance provider’s stock worth $5,033,000 after buying an additional 67,838 shares in the last quarter. 62.68% of the stock is currently owned by institutional investors.

United Fire Group Price Performance

NASDAQ:UFCS opened at $30.85 on Monday. The firm’s 50-day moving average price is $24.81 and its 200-day moving average price is $22.23. The company has a market capitalization of $781.80 million, a PE ratio of 15.90 and a beta of 0.53. United Fire Group, Inc. has a 1-year low of $18.04 and a 1-year high of $31.70.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.60. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. The business had revenue of $322.96 million for the quarter, compared to analysts’ expectations of $306.80 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. Equities analysts anticipate that United Fire Group, Inc. will post 1.84 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, November 29th. United Fire Group’s dividend payout ratio (DPR) is presently 32.99%.

Analyst Ratings Changes

UFCS has been the topic of several research reports. StockNews.com raised United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Piper Sandler upgraded United Fire Group from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $19.00 to $26.00 in a research report on Monday, November 18th.

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.