Thrivent Financial for Lutherans Has $350,000 Stake in United Fire Group, Inc. (NASDAQ:UFCS)

Thrivent Financial for Lutherans reduced its holdings in United Fire Group, Inc. (NASDAQ:UFCS) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,712 shares of the insurance provider’s stock after selling 927 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.07% of United Fire Group worth $350,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew 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 period. Janus Henderson Group PLC bought a new stake in United Fire Group during the 1st quarter worth approximately $202,000. Lion Street Advisors LLC acquired a new stake in United Fire Group during the 2nd quarter worth approximately $201,000. Assenagon Asset Management S.A. acquired a new stake in United Fire Group during the 2nd quarter worth approximately $4,770,000. Finally, Bank of New York Mellon Corp lifted its stake in 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 valued at $4,154,000 after buying an additional 1,023 shares in the last quarter. 62.68% of the stock is currently owned by institutional investors.

United Fire Group Stock Performance

Shares of NASDAQ UFCS opened at $31.54 on Friday. The firm’s 50-day simple moving average is $23.54 and its 200 day simple moving average is $21.90. The stock has a market cap of $799.22 million, a price-to-earnings ratio of 16.26 and a beta of 0.53. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $31.67.

United Fire Group (NASDAQ:UFCS) last posted its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.60. The business had revenue of $322.96 million during the quarter, compared to analyst estimates of $306.80 million. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, sell-side analysts predict that United Fire Group, Inc. will post 1.84 EPS for the current year.

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 2.03%. United Fire Group’s dividend payout ratio is currently 32.99%.

Analyst Ratings Changes

Several equities research analysts have issued reports on UFCS shares. StockNews.com raised United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Piper Sandler raised shares of United Fire Group from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $19.00 to $26.00 in a report on Monday, November 18th.

About United Fire Group

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.