BNP Paribas Financial Markets Reduces Stock Position in United Fire Group, Inc. (NASDAQ:UFCS)

BNP Paribas Financial Markets decreased its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 53.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,498 shares of the insurance provider’s stock after selling 9,950 shares during the quarter. BNP Paribas Financial Markets’ holdings in United Fire Group were worth $178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Foundry Partners LLC boosted its position in United Fire Group by 71.9% during the third quarter. Foundry Partners LLC now owns 178,155 shares of the insurance provider’s stock worth $3,729,000 after purchasing an additional 74,540 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of United Fire Group by 126.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,324 shares of the insurance provider’s stock worth $2,497,000 after buying an additional 66,676 shares during the last quarter. Empowered Funds LLC boosted its position in shares of United Fire Group by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 71,070 shares of the insurance provider’s stock worth $1,487,000 after buying an additional 3,618 shares in the last quarter. GSA Capital Partners LLP grew its stake in United Fire Group by 12.9% in the 3rd quarter. GSA Capital Partners LLP now owns 84,851 shares of the insurance provider’s stock valued at $1,776,000 after acquiring an additional 9,704 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in United Fire Group by 16.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 46,710 shares of the insurance provider’s stock valued at $978,000 after acquiring an additional 6,640 shares during the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

United Fire Group Stock Down 1.2 %

UFCS opened at $30.91 on Wednesday. The business’s fifty day simple moving average is $25.05 and its 200 day simple moving average is $22.30. United Fire Group, Inc. has a 52 week low of $18.04 and a 52 week high of $31.70. The firm has a market cap of $783.32 million, a P/E ratio of 15.93 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS) last issued its quarterly 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. The business had revenue of $322.96 million during the quarter, compared to the consensus estimate of $306.80 million. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, equities analysts expect that United Fire Group, Inc. will post 1.84 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, November 29th. United Fire Group’s dividend payout ratio is presently 32.99%.

Analyst Upgrades and Downgrades

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

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.