United Fire Group, Inc $UFCS Stake Lifted by Quantinno Capital Management LP

Quantinno Capital Management LP increased its position in United Fire Group, Inc (NASDAQ:UFCS) by 168.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,842 shares of the insurance provider’s stock after acquiring an additional 27,526 shares during the period. Quantinno Capital Management LP’s holdings in United Fire Group were worth $1,625,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of United Fire Group by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,511,541 shares of the insurance provider’s stock valued at $54,945,000 after acquiring an additional 35,338 shares during the period. Los Angeles Capital Management LLC raised its stake in United Fire Group by 111.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 57,647 shares of the insurance provider’s stock valued at $2,095,000 after purchasing an additional 30,328 shares in the last quarter. Intech Investment Management LLC raised its stake in United Fire Group by 320.9% in the fourth quarter. Intech Investment Management LLC now owns 50,925 shares of the insurance provider’s stock valued at $1,851,000 after purchasing an additional 38,825 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in United Fire Group during the fourth quarter worth about $1,524,000. Finally, Sierra Summit Advisors LLC bought a new stake in United Fire Group during the first quarter worth about $933,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on UFCS. Zacks Research lowered shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Piper Sandler upped their price target on shares of United Fire Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of United Fire Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, August 5th. Wall Street Zen cut shares of United Fire Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, JonesTrading boosted their price objective on shares of United Fire Group from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, United Fire Group presently has a consensus rating of “Moderate Buy” and an average price target of $52.50.

United Fire Group Stock Performance

NASDAQ:UFCS opened at $53.20 on Thursday. The stock’s 50-day simple moving average is $50.85 and its 200 day simple moving average is $43.80. The firm has a market capitalization of $1.37 billion, a PE ratio of 9.89 and a beta of 0.51. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.15. United Fire Group, Inc has a twelve month low of $29.74 and a twelve month high of $55.82.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Monday, August 3rd. The insurance provider reported $1.30 EPS for the quarter, topping the consensus estimate of $0.69 by $0.61. The firm had revenue of $383.73 million during the quarter, compared to the consensus estimate of $347.76 million. United Fire Group had a return on equity of 15.19% and a net margin of 9.57%. On average, analysts anticipate that United Fire Group, Inc will post 4.75 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.5%. United Fire Group’s payout ratio is 14.87%.

United Fire Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 20th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director George D. Milligan acquired 4,500 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average cost of $45.23 per share, for a total transaction of $203,535.00. Following the transaction, the director directly owned 90,034 shares in the company, valued at $4,072,237.82. This trade represents a 5.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.06% of the company’s stock.

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.