Comerica Bank boosted its holdings in United Fire Group, Inc. (NASDAQ:UFCS) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,725 shares of the insurance provider’s stock after buying an additional 715 shares during the quarter. Comerica Bank’s holdings in United Fire Group were worth $576,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Earnest Partners LLC raised its position in United Fire Group by 4.5% in the 4th quarter. Earnest Partners LLC now owns 1,524,477 shares of the insurance provider’s stock worth $66,665,000 after buying an additional 66,189 shares during the last quarter. State Street Corp increased its position in shares of United Fire Group by 6.3% during the 4th quarter. State Street Corp now owns 650,053 shares of the insurance provider’s stock valued at $28,427,000 after purchasing an additional 38,724 shares during the last quarter. Norges Bank purchased a new stake in shares of United Fire Group during the 4th quarter valued at about $27,351,000. Bank of New York Mellon Corp increased its position in shares of United Fire Group by 4.0% during the 4th quarter. Bank of New York Mellon Corp now owns 306,779 shares of the insurance provider’s stock valued at $13,415,000 after purchasing an additional 11,815 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of United Fire Group by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 304,682 shares of the insurance provider’s stock valued at $13,323,000 after purchasing an additional 4,118 shares during the last quarter. 60.80% of the stock is owned by institutional investors and hedge funds.

In other United Fire Group news, Director Mary K. Quass sold 2,727 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $24.50, for a total value of $66,811.50. Following the completion of the transaction, the director now directly owns 20,809 shares in the company, valued at approximately $509,820.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Randy A. Ramlo sold 1,285 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $30.19, for a total value of $38,794.15. Following the completion of the transaction, the chief executive officer now owns 72,996 shares of the company’s stock, valued at $2,203,749.24. The disclosure for this sale can be found here. Corporate insiders own 6.66% of the company’s stock.

United Fire Group stock opened at $27.47 on Friday. The firm has a 50 day moving average of $28.49 and a 200 day moving average of $38.70. The firm has a market capitalization of $667.43 million, a price-to-earnings ratio of -6.72 and a beta of 0.08. United Fire Group, Inc. has a 12-month low of $22.08 and a 12-month high of $53.68.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Wednesday, May 6th. The insurance provider reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.07). The firm had revenue of $271.21 million during the quarter, compared to analysts’ expectations of $287.30 million. United Fire Group had a negative return on equity of 5.42% and a negative net margin of 9.52%. As a group, analysts predict that United Fire Group, Inc. will post -0.25 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be paid a $0.33 dividend. The ex-dividend date is Thursday, June 4th. This represents a $1.32 annualized dividend and a yield of 4.81%. United Fire Group’s payout ratio is -122.22%.

Several equities research analysts have recently commented on UFCS shares. Zacks Investment Research raised shares of United Fire Group from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Saturday, April 18th. TheStreet lowered shares of United Fire Group from a “c” rating to a “d” rating in a research report on Wednesday, May 6th. Piper Sandler reduced their price target on shares of United Fire Group from $44.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. BidaskClub lowered shares of United Fire Group from a “sell” rating to a “strong sell” rating in a report on Friday, May 15th. Finally, Sidoti reduced their target price on shares of United Fire Group from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, May 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. United Fire Group currently has an average rating of “Hold” and a consensus target price of $31.33.

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, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners.

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Institutional Ownership by Quarter for United Fire Group (NASDAQ:UFCS)

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