Inspire Investing LLC Buys New Shares in United Fire Group, Inc $UFCS

Inspire Investing LLC purchased a new stake in United Fire Group, Inc (NASDAQ:UFCS) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 32,821 shares of the insurance provider’s stock, valued at approximately $998,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC increased its stake in United Fire Group by 17.7% in the first quarter. NewEdge Advisors LLC now owns 2,499 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 375 shares during the period. The Manufacturers Life Insurance Company increased its position in United Fire Group by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,883 shares of the insurance provider’s stock valued at $226,000 after acquiring an additional 391 shares during the period. PNC Financial Services Group Inc. raised its stake in United Fire Group by 7.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,024 shares of the insurance provider’s stock valued at $173,000 after acquiring an additional 399 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in United Fire Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,482 shares of the insurance provider’s stock worth $368,000 after acquiring an additional 546 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of United Fire Group by 1.0% in the 2nd quarter. Prudential Financial Inc. now owns 68,886 shares of the insurance provider’s stock valued at $1,977,000 after purchasing an additional 714 shares during the last quarter. 62.68% of the stock is owned by hedge funds and other institutional investors.

United Fire Group Stock Down 1.4%

Shares of NASDAQ UFCS opened at $36.44 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $35.07 and a 200 day moving average price of $31.41. United Fire Group, Inc has a 52 week low of $24.11 and a 52 week high of $37.90. The stock has a market capitalization of $929.58 million, a price-to-earnings ratio of 8.59 and a beta of 0.47.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.81. The company had revenue of $354.02 million during the quarter, compared to the consensus estimate of $354.46 million. United Fire Group had a net margin of 8.22% and a return on equity of 13.64%. Equities research analysts anticipate that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, December 5th. United Fire Group’s payout ratio is presently 15.09%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen raised United Fire Group from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Zacks Research upgraded shares of United Fire Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of United Fire Group in a research note on Monday. Jones Trading raised their price objective on shares of United Fire Group from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Finally, Piper Sandler boosted their target price on United Fire Group from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $37.50.

United Fire Group Company Profile

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.