Exchange Traded Concepts LLC Makes New $761,000 Investment in United Fire Group, Inc. (NASDAQ:UFCS)

Exchange Traded Concepts LLC purchased a new stake in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 36,351 shares of the insurance provider's stock, valued at approximately $761,000. Exchange Traded Concepts LLC owned 0.14% of United Fire Group as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Innealta Capital LLC bought a new position in United Fire Group during the second quarter worth $65,000. Lion Street Advisors LLC bought a new position in United Fire Group during the second quarter worth $201,000. Janus Henderson Group PLC bought a new position in United Fire Group during the first quarter worth $202,000. XTX Topco Ltd acquired a new stake in United Fire Group during the second quarter worth $213,000. Finally, Commonwealth Equity Services LLC acquired a new stake in United Fire Group during the second quarter worth $223,000. Institutional investors own 62.68% of the company's stock.

United Fire Group Stock Down 1.1 %

UFCS traded down $0.22 during trading on Friday, reaching $20.66. 55,608 shares of the company's stock were exchanged, compared to its average volume of 106,205. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $25.55. The business has a 50 day moving average price of $20.22 and a 200 day moving average price of $21.26. The company has a market capitalization of $522.62 million, a P/E ratio of -29.94 and a beta of 0.36.

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

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 3.10%. United Fire Group's dividend payout ratio is presently -92.75%.

Analyst Ratings Changes

A number of research firms have weighed in on UFCS. Piper Sandler decreased their price target on shares of United Fire Group from $21.00 to $19.00 and set an "underweight" rating on the stock in a research note on Thursday, August 8th. StockNews.com upgraded shares of United Fire Group from a "hold" rating to a "buy" rating in a research note on Friday, October 4th.

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.