Public Sector Pension Investment Board Boosts Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Public Sector Pension Investment Board boosted its position in United Fire Group, Inc. (NASDAQ:UFCS) by 6.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 46,727 shares of the insurance provider’s stock after purchasing an additional 2,680 shares during the quarter. Public Sector Pension Investment Board’s holdings in United Fire Group were worth $1,004,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of UFCS. Assenagon Asset Management S.A. purchased a new stake in United Fire Group in the 2nd quarter worth approximately $4,770,000. Los Angeles Capital Management LLC purchased a new stake in United Fire Group in the 2nd quarter worth approximately $861,000. Cornercap Investment Counsel Inc. purchased a new stake in United Fire Group in the 2nd quarter worth approximately $536,000. WINTON GROUP Ltd lifted its stake in United Fire Group by 45.0% in the 2nd quarter. WINTON GROUP Ltd now owns 43,008 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 13,338 shares in the last quarter. Finally, Mitchell Sinkler & Starr PA purchased a new stake in United Fire Group in the 1st quarter worth approximately $283,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

United Fire Group Stock Performance

United Fire Group stock opened at $20.19 on Thursday. The firm’s fifty day moving average price is $20.50 and its 200-day moving average price is $21.42. The stock has a market cap of $511.61 million, a P/E ratio of -29.26 and a beta of 0.36. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $25.55.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Tuesday, August 6th. The insurance provider reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $301.17 million for the quarter, compared to analysts’ expectations of $300.80 million. United Fire Group had a net margin of 3.17% and a return on equity of 5.23%. During the same quarter last year, the business posted ($2.27) EPS. On average, analysts predict that United Fire Group, Inc. will post 1.1 earnings per share for the current year.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Friday, August 30th. United Fire Group’s dividend payout ratio is currently -92.75%.

Analyst Ratings Changes

UFCS has been the topic of several recent analyst reports. StockNews.com cut shares of United Fire Group from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Piper Sandler lowered their price objective on shares of United Fire Group from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th.

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.