Assenagon Asset Management S.A. Buys 93,836 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Assenagon Asset Management S.A. raised its position in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 42.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 315,779 shares of the insurance provider's stock after buying an additional 93,836 shares during the quarter. Assenagon Asset Management S.A. owned about 1.25% of United Fire Group worth $6,609,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in UFCS. Systematic Financial Management LP raised its stake in United Fire Group by 11.6% during the second quarter. Systematic Financial Management LP now owns 437,584 shares of the insurance provider's stock worth $9,404,000 after acquiring an additional 45,405 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in United Fire Group by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,986 shares of the insurance provider's stock valued at $915,000 after purchasing an additional 1,071 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in United Fire Group in the third quarter valued at approximately $761,000. Janus Henderson Group PLC bought a new stake in shares of United Fire Group during the first quarter worth $202,000. Finally, Millennium Management LLC increased its holdings in shares of United Fire Group by 40.8% during the second quarter. Millennium Management LLC now owns 234,214 shares of the insurance provider's stock worth $5,033,000 after buying an additional 67,838 shares in the last quarter. 62.68% of the stock is currently owned by institutional investors and hedge funds.

United Fire Group Stock Performance

Shares of NASDAQ:UFCS traded down $0.23 during mid-day trading on Tuesday, reaching $19.86. 75,357 shares of the company's stock were exchanged, compared to its average volume of 105,010. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $25.55. The firm has a market capitalization of $503.25 million, a price-to-earnings ratio of 13.89 and a beta of 0.36. The business's fifty day moving average price is $20.31 and its 200-day moving average price is $21.19.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $301.17 million during the quarter, compared to the consensus estimate of $300.80 million. During the same quarter last year, the firm posted ($2.27) EPS. Analysts predict that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, August 30th. United Fire Group's dividend payout ratio (DPR) is presently 44.76%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Piper Sandler cut their price objective on United Fire Group from $21.00 to $19.00 and set an "underweight" rating on the stock in a report on Thursday, August 8th. StockNews.com upgraded United Fire Group from a "hold" rating to a "buy" rating in a report 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.