Barclays PLC Grows Position in United Fire Group, Inc. (NASDAQ:UFCS)

Barclays PLC increased its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 5.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,531 shares of the insurance provider’s stock after buying an additional 648 shares during the quarter. Barclays PLC’s holdings in United Fire Group were worth $332,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in United Fire Group by 72.0% during the 1st quarter. Captrust Financial Advisors now owns 1,488 shares of the insurance provider’s stock worth $46,000 after buying an additional 623 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in United Fire Group by 254.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,119 shares of the insurance provider’s stock worth $61,000 after acquiring an additional 1,521 shares during the period. UBS Group AG lifted its position in United Fire Group by 34.5% during the 3rd quarter. UBS Group AG now owns 3,182 shares of the insurance provider’s stock worth $91,000 after acquiring an additional 817 shares during the period. PNC Financial Services Group Inc. lifted its position in United Fire Group by 51.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,838 shares of the insurance provider’s stock worth $119,000 after acquiring an additional 1,302 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in United Fire Group during the 3rd quarter worth approximately $135,000. Hedge funds and other institutional investors own 62.15% of the company’s stock.

Wall Street Analyst Weigh In

UFCS has been the subject of a number of recent research reports. StockNews.com initiated coverage on United Fire Group in a research report on Thursday, August 17th. They set a “hold” rating for the company. Piper Sandler decreased their price objective on United Fire Group from $20.00 to $19.00 in a research report on Wednesday, August 9th.

United Fire Group Price Performance

UFCS opened at $20.13 on Thursday. The business has a 50 day simple moving average of $21.74 and a 200-day simple moving average of $24.38. The stock has a market capitalization of $508.48 million, a P/E ratio of -8.68 and a beta of 0.19. United Fire Group, Inc. has a 12 month low of $19.14 and a 12 month high of $33.97.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Monday, August 7th. The insurance provider reported ($2.27) EPS for the quarter, meeting the consensus estimate of ($2.27). The business had revenue of $267.09 million during the quarter, compared to analysts’ expectations of $266.80 million. United Fire Group had a negative return on equity of 8.70% and a negative net margin of 5.58%. Research analysts anticipate that United Fire Group, Inc. will post -1.91 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.64 annualized dividend and a yield of 3.18%. United Fire Group’s dividend payout ratio is presently -27.59%.

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