First Trust Advisors LP Decreases Holdings in United Fire Group, Inc (UFCS)
First Trust Advisors LP cut its holdings in shares of United Fire Group, Inc (NASDAQ:UFCS) by 37.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,471 shares of the insurance provider’s stock after selling 11,711 shares during the quarter. First Trust Advisors LP owned 0.08% of United Fire Group worth $858,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Thrivent Financial For Lutherans boosted its position in United Fire Group by 21.4% during the 1st quarter. Thrivent Financial For Lutherans now owns 27,580 shares of the insurance provider’s stock worth $1,180,000 after acquiring an additional 4,870 shares during the period. BlackRock Inc. boosted its position in United Fire Group by 42,903.1% during the 1st quarter. BlackRock Inc. now owns 2,405,592 shares of the insurance provider’s stock worth $102,887,000 after acquiring an additional 2,399,998 shares during the period. Arizona State Retirement System boosted its position in United Fire Group by 1.8% during the 1st quarter. Arizona State Retirement System now owns 11,321 shares of the insurance provider’s stock worth $484,000 after acquiring an additional 200 shares during the period. Parametric Portfolio Associates LLC boosted its position in United Fire Group by 13.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 65,591 shares of the insurance provider’s stock worth $2,805,000 after acquiring an additional 8,017 shares during the period. Finally, Teachers Advisors LLC boosted its position in United Fire Group by 1.4% during the 4th quarter. Teachers Advisors LLC now owns 35,954 shares of the insurance provider’s stock worth $1,768,000 after acquiring an additional 503 shares during the period. Hedge funds and other institutional investors own 58.23% of the company’s stock.
A number of equities research analysts have commented on UFCS shares. BidaskClub upgraded United Fire Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Sidoti started coverage on United Fire Group in a research report on Friday, June 9th. They set a “neutral” rating and a $48.00 price objective for the company.
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Shares of United Fire Group, Inc (UFCS) opened at 42.02 on Friday. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 23.08 and a beta of 0.77. United Fire Group, Inc has a 12 month low of $37.54 and a 12 month high of $50.75. The firm’s 50-day moving average price is $42.53 and its 200-day moving average price is $43.17.
United Fire Group (NASDAQ:UFCS) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). United Fire Group had a net margin of 4.07% and a return on equity of 4.33%. The business had revenue of $284.30 million during the quarter. On average, equities analysts anticipate that United Fire Group, Inc will post $1.60 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.28 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 2.66%. United Fire Group’s payout ratio is 61.20%.
About United Fire Group
United Fire Group, Inc, formerly United Fire & Casualty Company, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. The Company operates in two segments: property and casualty insurance, and life insurance. The Company’s property and casualty insurance segment consists of commercial lines insurance, including surety bonds, personal lines insurance and assumed insurance.
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