New York State Teachers Retirement System Grows Stake in United Fire Group, Inc. (NASDAQ:UFCS)

New York State Teachers Retirement System increased its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCSGet Rating) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,193 shares of the insurance provider’s stock after purchasing an additional 2,041 shares during the quarter. New York State Teachers Retirement System owned approximately 0.20% of United Fire Group worth $1,413,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UFCS. Lazard Asset Management LLC purchased a new stake in shares of United Fire Group during the second quarter worth about $31,000. Captrust Financial Advisors grew its position in shares of United Fire Group by 72.0% during the first quarter. Captrust Financial Advisors now owns 1,488 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 623 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in shares of United Fire Group during the second quarter worth about $62,000. First Horizon Advisors Inc. purchased a new stake in shares of United Fire Group during the second quarter worth about $89,000. Finally, Venture Visionary Partners LLC purchased a new position in United Fire Group during the 2nd quarter valued at approximately $101,000. Hedge funds and other institutional investors own 64.56% of the company’s stock.

Insider Activity

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 purchase, the director now directly owns 4,205 shares of the company’s stock, valued at $119,043.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.71% of the company’s stock.

United Fire Group Price Performance

NASDAQ UFCS opened at $30.01 on Thursday. The stock has a market capitalization of $756.16 million, a PE ratio of 14.50 and a beta of 0.09. United Fire Group, Inc. has a 1-year low of $22.96 and a 1-year high of $37.26. The business has a 50 day simple moving average of $28.61 and a two-hundred day simple moving average of $29.89.

United Fire Group (NASDAQ:UFCSGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.01. The business had revenue of $235.57 million during the quarter, compared to analyst estimates 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Thursday, December 1st. United Fire Group’s payout ratio is 30.92%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on UFCS. Piper Sandler raised their price target on United Fire Group from $29.00 to $30.00 in a report on Tuesday, January 10th. began coverage on United Fire Group in a report on Wednesday, October 12th. They set a “hold” rating for the company.

About United Fire Group

(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.

Further Reading

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

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