Bank of America Corp DE boosted its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,316 shares of the insurance provider’s stock after acquiring an additional 8,923 shares during the period. Bank of America Corp DE owned 0.54% of United Fire Group worth $6,557,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in UFCS. BlackRock Inc. increased its stake in United Fire Group by 1.7% during the 2nd quarter. BlackRock Inc. now owns 3,132,506 shares of the insurance provider’s stock valued at $151,801,000 after purchasing an additional 52,837 shares in the last quarter. Atria Investments LLC bought a new stake in United Fire Group during the 2nd quarter valued at about $3,954,000. Chicago Equity Partners LLC bought a new stake in United Fire Group during the 2nd quarter valued at about $795,000. Earnest Partners LLC increased its stake in United Fire Group by 1.0% during the 2nd quarter. Earnest Partners LLC now owns 1,458,081 shares of the insurance provider’s stock valued at $70,659,000 after purchasing an additional 14,617 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its stake in United Fire Group by 160.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 21,918 shares of the insurance provider’s stock valued at $1,062,000 after purchasing an additional 13,504 shares in the last quarter. Institutional investors and hedge funds own 61.28% of the company’s stock.
A number of analysts have weighed in on the stock. TheStreet lowered shares of United Fire Group from a “b-” rating to a “c+” rating in a research note on Wednesday, August 28th. BidaskClub lowered shares of United Fire Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st.
NASDAQ:UFCS opened at $45.39 on Friday. The firm has a market cap of $1.14 billion, a P/E ratio of 2,257.00 and a beta of -0.08. United Fire Group, Inc. has a fifty-two week low of $40.86 and a fifty-two week high of $56.21. The firm has a 50-day simple moving average of $45.96 and a two-hundred day simple moving average of $46.50.
United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Wednesday, August 7th. The insurance provider reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.60). The firm had revenue of $304.20 million for the quarter. United Fire Group had a net margin of 1.91% and a return on equity of 0.11%.
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.91%.
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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