Connable Office Inc. decreased its position in shares of United Fire Group, Inc (NASDAQ:UFCS) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 6,159 shares of the insurance provider’s stock after selling 480 shares during the period. Connable Office Inc.’s holdings in United Fire Group were worth $271,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of United Fire Group by 42,903.1% in the first quarter. BlackRock Inc. now owns 2,405,592 shares of the insurance provider’s stock worth $102,887,000 after buying an additional 2,399,998 shares in the last quarter. Norges Bank acquired a new stake in shares of United Fire Group during the fourth quarter worth $18,557,000. Vanguard Group Inc. increased its stake in shares of United Fire Group by 7.8% in the first quarter. Vanguard Group Inc. now owns 1,867,924 shares of the insurance provider’s stock worth $79,890,000 after buying an additional 135,228 shares in the last quarter. Great Lakes Advisors LLC increased its stake in shares of United Fire Group by 36.7% in the first quarter. Great Lakes Advisors LLC now owns 133,838 shares of the insurance provider’s stock worth $5,724,000 after buying an additional 35,912 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of United Fire Group by 40.1% in the first quarter. Bank of America Corp DE now owns 109,134 shares of the insurance provider’s stock worth $4,668,000 after buying an additional 31,231 shares in the last quarter. 58.10% of the stock is owned by institutional investors and hedge funds.

Shares of United Fire Group, Inc (UFCS) opened at 43.99 on Friday. The company’s 50 day moving average is $44.07 and its 200-day moving average is $43.81. The company has a market cap of $1.10 billion, a P/E ratio of 24.16 and a beta of 0.79. United Fire Group, Inc has a 12 month low of $37.54 and a 12 month high of $50.75.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.06. United Fire Group had a net margin of 4.07% and a return on equity of 4.33%. The firm had revenue of $284.30 million for the quarter. Analysts expect that United Fire Group, Inc will post $1.79 EPS for the current fiscal year.

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A number of equities research analysts recently weighed in on UFCS shares. Sidoti started coverage on shares of United Fire Group in a research report on Friday, June 9th. They set a “neutral” rating and a $48.00 price objective for the company. BidaskClub raised shares of United Fire Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th.

United Fire Group Company Profile

United Fire Group, Inc, formerly United Fire & Casualty Company, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. The Company operates in two segments: property and casualty insurance, and life insurance. The Company’s property and casualty insurance segment consists of commercial lines insurance, including surety bonds, personal lines insurance and assumed insurance.

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Institutional Ownership by Quarter for United Fire Group (NASDAQ:UFCS)

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