United Fire Group, Inc $UFCS Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP cut its stake in shares of United Fire Group, Inc (NASDAQ:UFCS) by 87.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,958 shares of the insurance provider’s stock after selling 47,581 shares during the quarter. GSA Capital Partners LLP’s holdings in United Fire Group were worth $212,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in UFCS. NewEdge Advisors LLC grew its stake in United Fire Group by 17.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock worth $74,000 after buying an additional 375 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of United Fire Group by 5.2% during the second quarter. The Manufacturers Life Insurance Company now owns 7,883 shares of the insurance provider’s stock valued at $226,000 after acquiring an additional 391 shares during the period. PNC Financial Services Group Inc. grew its position in shares of United Fire Group by 7.1% during the second quarter. PNC Financial Services Group Inc. now owns 6,024 shares of the insurance provider’s stock worth $173,000 after acquiring an additional 399 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of United Fire Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,482 shares of the insurance provider’s stock worth $368,000 after acquiring an additional 546 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of United Fire Group by 1.0% in the 2nd quarter. Prudential Financial Inc. now owns 68,886 shares of the insurance provider’s stock worth $1,977,000 after acquiring an additional 714 shares during the period. Institutional investors own 62.68% of the company’s stock.

United Fire Group Trading Up 0.2%

Shares of UFCS stock opened at $38.86 on Monday. United Fire Group, Inc has a fifty-two week low of $25.01 and a fifty-two week high of $40.63. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $36.70 and a 200 day simple moving average of $34.22. The stock has a market capitalization of $991.71 million, a P/E ratio of 8.67 and a beta of 0.44.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Wednesday, February 11th. The insurance provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.60. United Fire Group had a net margin of 8.52% and a return on equity of 13.84%. The business had revenue of $365.81 million for the quarter, compared to the consensus estimate of $332.34 million. On average, sell-side analysts expect that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

United Fire Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a dividend of $0.20 per share. This is a boost from United Fire Group’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, February 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. United Fire Group’s payout ratio is currently 17.86%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of United Fire Group in a research report on Monday, December 29th. Piper Sandler raised their price target on United Fire Group from $37.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. JonesTrading lifted their price objective on shares of United Fire Group from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Wall Street Zen upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Zacks Research cut shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, United Fire Group has a consensus rating of “Moderate Buy” and an average target price of $39.50.

About United Fire Group

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.