Bank of New York Mellon Corp trimmed its position in United Fire Group, Inc (NASDAQ:UFCS) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,700 shares of the insurance provider’s stock after selling 2,444 shares during the quarter. Bank of New York Mellon Corp owned 1.19% of United Fire Group worth $13,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of UFCS. Great West Life Assurance Co. Can raised its stake in shares of United Fire Group by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 29,729 shares of the insurance provider’s stock valued at $1,271,000 after purchasing an additional 1,637 shares in the last quarter. First Trust Advisors LP raised its stake in shares of United Fire Group by 2.3% in the first quarter. First Trust Advisors LP now owns 31,182 shares of the insurance provider’s stock valued at $1,334,000 after purchasing an additional 692 shares in the last quarter. Comerica Bank raised its stake in shares of United Fire Group by 4.4% in the first quarter. Comerica Bank now owns 23,958 shares of the insurance provider’s stock valued at $1,067,000 after purchasing an additional 1,007 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of United Fire Group in the first quarter valued at $427,000. Finally, Parametric Portfolio Associates LLC raised its stake in shares of United Fire Group by 13.9% in the first quarter. Parametric Portfolio Associates LLC now owns 65,591 shares of the insurance provider’s stock valued at $2,805,000 after purchasing an additional 8,017 shares in the last quarter. Institutional investors and hedge funds own 58.23% of the company’s stock.

United Fire Group, Inc (NASDAQ:UFCS) opened at 45.08 on Friday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 24.76 and a beta of 0.77. The company has a 50 day moving average price of $42.53 and a 200-day moving average price of $43.17. United Fire Group, Inc has a 52 week low of $37.54 and a 52 week high of $50.75.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). The firm had revenue of $284.30 million during the quarter. United Fire Group had a net margin of 4.07% and a return on equity of 4.33%. Equities analysts predict that United Fire Group, Inc will post $1.60 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.12 annualized dividend and a yield of 2.48%. United Fire Group’s dividend payout ratio (DPR) is presently 61.20%.

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A number of research analysts recently commented on the company. Sandler O’Neill upgraded United Fire Group from a “hold” rating to a “buy” rating and upped their target price for the company from $46.00 to $47.00 in a research note on Friday. BidaskClub lowered United Fire Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, Sidoti assumed coverage on United Fire Group in a research note on Friday, June 9th. They issued a “neutral” rating and a $48.00 target price for the company.

United Fire Group 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.

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

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