Centiva Capital LP Increases Stock Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Centiva Capital LP boosted its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 21.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,860 shares of the insurance provider’s stock after buying an additional 2,278 shares during the period. Centiva Capital LP owned approximately 0.05% of United Fire Group worth $269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. boosted its stake in United Fire Group by 82.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock worth $144,000 after buying an additional 3,098 shares in the last quarter. Martingale Asset Management L P lifted its holdings in United Fire Group by 2.2% in the 3rd quarter. Martingale Asset Management L P now owns 44,090 shares of the insurance provider’s stock worth $923,000 after buying an additional 947 shares during the period. Foundry Partners LLC grew its position in shares of United Fire Group by 71.9% in the 3rd quarter. Foundry Partners LLC now owns 178,155 shares of the insurance provider’s stock worth $3,729,000 after buying an additional 74,540 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in United Fire Group by 126.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,324 shares of the insurance provider’s stock valued at $2,497,000 after acquiring an additional 66,676 shares in the last quarter. Finally, Empowered Funds LLC increased its position in United Fire Group by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 71,070 shares of the insurance provider’s stock valued at $1,487,000 after purchasing an additional 3,618 shares during the period. Hedge funds and other institutional investors own 62.68% of the company’s stock.

United Fire Group Stock Performance

NASDAQ:UFCS opened at $30.79 on Thursday. The stock’s fifty day moving average is $24.37 and its 200 day moving average is $22.12. The firm has a market capitalization of $780.28 million, a PE ratio of 15.87 and a beta of 0.52. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $31.70.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 EPS 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 the consensus estimate of $306.80 million. During the same period in the prior year, the firm earned $0.31 EPS. Equities analysts forecast that United Fire Group, Inc. will post 1.84 EPS for the current year.

United Fire Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 2.08%. United Fire Group’s dividend payout ratio (DPR) is presently 32.99%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler upgraded United Fire Group from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $19.00 to $26.00 in a research note on Monday, November 18th. StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th.

United Fire Group Company 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.