Wilmington Savings Fund Society FSB Purchases Shares of 27,477 United Fire Group, Inc. (NASDAQ:UFCS)

Wilmington Savings Fund Society FSB acquired a new stake in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,477 shares of the insurance provider's stock, valued at approximately $575,000. Wilmington Savings Fund Society FSB owned 0.11% of United Fire Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in UFCS. Earnest Partners LLC raised its holdings in shares of United Fire Group by 2.2% in the second quarter. Earnest Partners LLC now owns 1,293,367 shares of the insurance provider's stock valued at $27,794,000 after purchasing an additional 27,376 shares during the last quarter. State Street Corp grew its position in United Fire Group by 2.2% in the 3rd quarter. State Street Corp now owns 821,566 shares of the insurance provider's stock worth $17,195,000 after purchasing an additional 17,415 shares in the last quarter. Geode Capital Management LLC increased its stake in United Fire Group by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider's stock valued at $10,514,000 after buying an additional 2,925 shares during the last quarter. Systematic Financial Management LP lifted its position in shares of United Fire Group by 11.0% during the 3rd quarter. Systematic Financial Management LP now owns 485,633 shares of the insurance provider's stock worth $10,164,000 after buying an additional 48,049 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of United Fire Group by 42.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 315,779 shares of the insurance provider's stock worth $6,609,000 after buying an additional 93,836 shares during the last quarter. Institutional investors own 62.68% of the company's stock.

United Fire Group Stock Performance

NASDAQ UFCS traded up $0.44 on Monday, hitting $31.29. The stock had a trading volume of 79,550 shares, compared to its average volume of 109,962. The firm has a 50-day moving average of $25.05 and a 200-day moving average of $22.30. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70. The company has a market capitalization of $792.95 million, a price-to-earnings ratio of 16.13 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted 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. The business had revenue of $322.96 million during the quarter, compared to analysts' expectations of $306.80 million. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. During the same period in the previous year, the business earned $0.31 earnings per share. As a group, research analysts anticipate that United Fire Group, Inc. will post 1.84 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 2.05%. United Fire Group's dividend payout ratio is presently 32.99%.

Analysts Set New Price Targets

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

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.