Exchange Traded Concepts LLC Invests $761,000 in United Fire Group, Inc. (NASDAQ:UFCS)

Exchange Traded Concepts LLC purchased a new position in United Fire Group, Inc. (NASDAQ:UFCS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,351 shares of the insurance provider’s stock, valued at approximately $761,000. Exchange Traded Concepts LLC owned 0.14% of United Fire Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of United Fire Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 193,283 shares of the insurance provider’s stock worth $4,154,000 after purchasing an additional 1,023 shares during the period. Price T Rowe Associates Inc. MD increased its stake in United Fire Group by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,986 shares of the insurance provider’s stock valued at $915,000 after acquiring an additional 1,071 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in United Fire Group by 10.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 17,108 shares of the insurance provider’s stock valued at $368,000 after acquiring an additional 1,625 shares during the last quarter. American Century Companies Inc. increased its stake in United Fire Group by 6.6% in the second quarter. American Century Companies Inc. now owns 33,616 shares of the insurance provider’s stock valued at $722,000 after acquiring an additional 2,085 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in United Fire Group by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 190,672 shares of the insurance provider’s stock valued at $4,098,000 after acquiring an additional 2,541 shares during the last quarter. Institutional investors own 62.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com raised United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Piper Sandler reduced their target price on United Fire Group from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Thursday, August 8th.

United Fire Group Trading Down 1.1 %

Shares of NASDAQ:UFCS opened at $20.66 on Friday. The stock’s 50-day moving average price is $20.22 and its 200-day moving average price is $21.26. United Fire Group, Inc. has a 12-month low of $18.04 and a 12-month high of $25.55. The stock has a market capitalization of $523.52 million, a P/E ratio of 14.45 and a beta of 0.36.

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

United Fire Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.10%. United Fire Group’s dividend payout ratio (DPR) is currently 44.76%.

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.