Great West Life Assurance Co. Can increased its position in United Fire Group, Inc. (NASDAQ:UFCS) by 10.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 29,884 shares of the insurance provider’s stock after buying an additional 2,736 shares during the period. Great West Life Assurance Co. Can’s holdings in United Fire Group were worth $1,304,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of United Fire Group by 23.1% during the fourth quarter. BlackRock Inc. now owns 2,949,540 shares of the insurance provider’s stock valued at $163,553,000 after acquiring an additional 554,131 shares in the last quarter. Norges Bank acquired a new stake in shares of United Fire Group during the fourth quarter valued at about $27,833,000. Systematic Financial Management LP grew its stake in shares of United Fire Group by 1.2% during the first quarter. Systematic Financial Management LP now owns 491,688 shares of the insurance provider’s stock valued at $21,492,000 after acquiring an additional 5,632 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of United Fire Group by 4.4% during the fourth quarter. Victory Capital Management Inc. now owns 272,980 shares of the insurance provider’s stock valued at $15,137,000 after acquiring an additional 11,490 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of United Fire Group by 10.5% during the fourth quarter. Geode Capital Management LLC now owns 250,720 shares of the insurance provider’s stock valued at $13,902,000 after acquiring an additional 23,819 shares in the last quarter. 62.25% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:UFCS opened at $47.38 on Thursday. The stock has a market capitalization of $1.20 billion, a P/E ratio of 82.02 and a beta of -0.11. United Fire Group, Inc. has a one year low of $40.86 and a one year high of $61.56.
United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.38. The business had revenue of $332.25 million during the quarter. United Fire Group had a return on equity of 1.63% and a net margin of 2.35%.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.79%. This is an increase from United Fire Group’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 30th.
In related news, VP David E. Conner sold 30,011 shares of United Fire Group stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $41.34, for a total value of $1,240,654.74. Following the completion of the transaction, the vice president now directly owns 9,450 shares in the company, valued at $390,663. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.66% of the stock is currently owned by company insiders.
A number of research firms recently commented on UFCS. TheStreet upgraded United Fire Group from a “c+” rating to a “b-” rating in a research note on Wednesday, June 5th. BidaskClub upgraded United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. Finally, ValuEngine downgraded United Fire Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th.
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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, 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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