United Fire Group, Inc. (NASDAQ:UFCS) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 93.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,758 shares of the insurance provider’s stock after acquiring an additional 6,631 shares during the quarter. SG Americas Securities LLC owned about 0.05% of United Fire Group worth $288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Earnest Partners LLC increased its stake in shares of United Fire Group by 2.2% during the 2nd quarter. Earnest Partners LLC now owns 1,293,367 shares of the insurance provider’s stock valued at $27,794,000 after acquiring an additional 27,376 shares during the last quarter. Systematic Financial Management LP increased its stake in shares of United Fire Group by 11.6% during the 2nd quarter. Systematic Financial Management LP now owns 437,584 shares of the insurance provider’s stock valued at $9,404,000 after acquiring an additional 45,405 shares during the last quarter. Millennium Management LLC increased its position in United Fire Group by 40.8% during the 2nd quarter. Millennium Management LLC now owns 234,214 shares of the insurance provider’s stock worth $5,033,000 after purchasing an additional 67,838 shares in the last quarter. 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 increased its position in United Fire Group by 0.5% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on UFCS shares. StockNews.com raised shares of United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Piper Sandler dropped their target price on shares of 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.

United Fire Group Stock Performance

UFCS opened at $20.66 on Monday. The firm has a 50 day moving average price of $20.22 and a 200 day moving average price of $21.25. The company has a market cap of $523.52 million, a PE ratio of 14.45 and a beta of 0.36. United Fire Group, Inc. has a 1 year low of $18.04 and a 1 year high of $25.55.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The company had revenue of $301.17 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned ($2.27) EPS. On average, sell-side analysts predict that United Fire Group, Inc. will post 1.1 earnings per share for the current year.

United Fire Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Friday, August 30th. United Fire Group’s dividend payout ratio is presently 44.76%.

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.