Oppenheimer Asset Management Inc. Has $368,000 Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Oppenheimer Asset Management Inc. grew its position in United Fire Group, Inc. (NASDAQ:UFCS) by 10.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,108 shares of the insurance provider’s stock after purchasing an additional 1,625 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.07% of United Fire Group worth $368,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Innealta Capital LLC acquired a new stake in United Fire Group in the 2nd quarter worth about $65,000. Quest Partners LLC acquired a new stake in shares of United Fire Group in the fourth quarter valued at approximately $113,000. Lion Street Advisors LLC bought a new stake in shares of United Fire Group in the second quarter valued at approximately $201,000. Janus Henderson Group PLC acquired a new stake in United Fire Group during the first quarter worth approximately $202,000. Finally, Commonwealth Equity Services LLC bought a new position in United Fire Group during the 2nd quarter worth $223,000. Institutional investors own 62.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Piper Sandler cut their target price on United Fire Group from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Thursday, August 8th. StockNews.com cut shares of United Fire Group from a “buy” rating to a “hold” rating in a research report on Monday, August 12th.

United Fire Group Price Performance

Shares of NASDAQ:UFCS opened at $21.03 on Friday. United Fire Group, Inc. has a 1 year low of $18.04 and a 1 year high of $25.55. The stock has a market capitalization of $531.97 million, a price-to-earnings ratio of -30.48 and a beta of 0.36. The company’s 50 day simple moving average is $20.66 and its 200 day simple moving average is $21.50.

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

United Fire Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, August 30th. United Fire Group’s payout ratio is -92.75%.

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; 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.