United Fire Group, Inc. (NASDAQ:UFCS) Shares Bought by Earnest Partners LLC

Earnest Partners LLC grew its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,293,367 shares of the insurance provider's stock after acquiring an additional 27,376 shares during the period. Earnest Partners LLC owned about 5.11% of United Fire Group worth $27,794,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in United Fire Group during the 2nd quarter valued at $4,770,000. Marshall Wace LLP increased its stake in shares of United Fire Group by 929.0% during the second quarter. Marshall Wace LLP now owns 99,842 shares of the insurance provider's stock valued at $2,146,000 after buying an additional 90,139 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of United Fire Group in the second quarter valued at about $861,000. Charles Schwab Investment Management Inc. lifted its stake in United Fire Group by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 363,590 shares of the insurance provider's stock worth $7,315,000 after acquiring an additional 27,213 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new position in United Fire Group during the 2nd quarter worth about $536,000. Hedge funds and other institutional investors own 62.68% of the company's stock.

United Fire Group Price Performance

Shares of UFCS stock traded up $0.03 during mid-day trading on Friday, hitting $20.76. 66,621 shares of the stock traded hands, compared to its average volume of 107,486. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $25.55. The stock has a market cap of $526.06 million, a P/E ratio of -30.04 and a beta of 0.36. The stock's fifty day moving average is $20.54 and its two-hundred day moving average is $21.46.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The business had revenue of $301.17 million for the quarter, compared to analyst estimates of $300.80 million. United Fire Group had a net margin of 3.17% and a return on equity of 5.23%. During the same period in the prior year, the company earned ($2.27) earnings per share. As a group, equities analysts forecast that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, August 30th. United Fire Group's dividend payout ratio (DPR) is presently -92.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Piper Sandler lowered their price target 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. StockNews.com cut United Fire Group from a "buy" rating to a "hold" rating in a research report on Monday, August 12th.

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.