Louisiana State Employees Retirement System Invests $299,000 in United Fire Group, Inc. (NASDAQ:UFCS)

Louisiana State Employees Retirement System purchased a new position in shares of United Fire Group, Inc. (NASDAQ:UFCSGet Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,400 shares of the insurance provider’s stock, valued at approximately $299,000.

Several other institutional investors have also modified their holdings of the stock. Martingale Asset Management L P raised its holdings in shares of United Fire Group by 2.0% during the 2nd quarter. Martingale Asset Management L P now owns 26,289 shares of the insurance provider’s stock worth $900,000 after acquiring an additional 512 shares during the period. Mutual of America Capital Management LLC raised its holdings in United Fire Group by 16.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 3,629 shares of the insurance provider’s stock valued at $124,000 after buying an additional 516 shares during the period. Advisor Group Holdings Inc. raised its holdings in United Fire Group by 9.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 7,240 shares of the insurance provider’s stock valued at $225,000 after buying an additional 608 shares during the period. Captrust Financial Advisors raised its holdings in United Fire Group by 72.0% in the 1st quarter. Captrust Financial Advisors now owns 1,488 shares of the insurance provider’s stock valued at $46,000 after buying an additional 623 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in United Fire Group in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 64.56% of the company’s stock.

United Fire Group Price Performance

NASDAQ UFCS opened at $29.03 on Friday. The company has a market cap of $731.47 million, a P/E ratio of 14.02 and a beta of 0.08. The stock has a 50-day moving average of $28.43 and a two-hundred day moving average of $30.01. United Fire Group, Inc. has a 1-year low of $22.96 and a 1-year high of $37.26.

United Fire Group (NASDAQ:UFCSGet Rating) last released its earnings results on Wednesday, November 2nd. The insurance provider reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.01. The company had revenue of $235.57 million during the quarter, compared to the consensus estimate of $234.40 million. United Fire Group had a return on equity of 8.22% and a net margin of 5.41%. On average, analysts anticipate that United Fire Group, Inc. will post 1.27 EPS for the current fiscal year.

United Fire Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, December 1st. United Fire Group’s dividend payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UFCS. StockNews.com began coverage on shares of United Fire Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler boosted their price objective on shares of United Fire Group from $29.00 to $30.00 in a report on Tuesday.

Insider Transactions at United Fire Group

In related news, Director Mark A. Green acquired 1,800 shares of the stock in a transaction dated Monday, November 7th. The stock was acquired at an average cost of $28.31 per share, with a total value of $50,958.00. Following the completion of the transaction, the director now owns 4,205 shares in the company, valued at approximately $119,043.55. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.71% of the company’s stock.

United Fire Group Profile

(Get Rating)

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 commercial multiple peril and inland marine insurance, as well as assumed reinsurance products.

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Institutional Ownership by Quarter for United Fire Group (NASDAQ:UFCS)

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