United Fire Group, Inc. (NASDAQ:UFCS) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP raised its stake in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 11.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 485,633 shares of the insurance provider's stock after acquiring an additional 48,049 shares during the period. Systematic Financial Management LP owned 1.92% of United Fire Group worth $10,164,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UFCS. Price T Rowe Associates Inc. MD boosted its stake in United Fire Group by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,986 shares of the insurance provider's stock valued at $915,000 after acquiring an additional 1,071 shares during the period. Janus Henderson Group PLC acquired a new position in United Fire Group in the first quarter valued at approximately $202,000. Lion Street Advisors LLC acquired a new position in United Fire Group in the second quarter valued at approximately $201,000. Assenagon Asset Management S.A. acquired a new position in United Fire Group in the second quarter valued at approximately $4,770,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of United Fire Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 193,283 shares of the insurance provider's stock valued at $4,154,000 after buying an additional 1,023 shares during the last quarter. 62.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on UFCS. Piper Sandler raised United Fire Group from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $19.00 to $26.00 in a report on Monday, November 18th. StockNews.com raised United Fire Group from a "hold" rating to a "buy" rating in a report on Friday, October 4th.

United Fire Group Stock Performance

Shares of UFCS traded up $0.01 during mid-day trading on Friday, reaching $31.55. 143,645 shares of the company's stock traded hands, compared to its average volume of 110,087. The business's 50-day moving average price is $23.76 and its 200-day moving average price is $21.96. The stock has a market capitalization of $799.54 million, a P/E ratio of 16.26 and a beta of 0.53. United Fire Group, Inc. has a 12 month low of $18.04 and a 12 month high of $31.67.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.21 by $0.60. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. The firm had revenue of $322.96 million for the quarter, compared to analysts' expectations of $306.80 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. Equities research analysts anticipate that United Fire Group, Inc. will post 1.84 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 2.03%. United Fire Group's payout ratio is 32.99%.

About United Fire Group

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.