GAMMA Investing LLC Has $1.15 Million Stock Position in United Fire Group, Inc. (NASDAQ:UFCS)

GAMMA Investing LLC boosted its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 10,805.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,152 shares of the insurance provider’s stock after purchasing an additional 38,793 shares during the period. GAMMA Investing LLC owned 0.15% of United Fire Group worth $1,153,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new stake in shares of United Fire Group in the fourth quarter worth about $60,000. Aquatic Capital Management LLC lifted its position in shares of United Fire Group by 716.3% in the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider’s stock worth $70,000 after buying an additional 2,149 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of United Fire Group in the fourth quarter worth about $119,000. KLP Kapitalforvaltning AS acquired a new stake in shares of United Fire Group in the fourth quarter worth about $131,000. Finally, State of Wyoming acquired a new stake in shares of United Fire Group in the fourth quarter worth about $177,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

United Fire Group Stock Performance

NASDAQ UFCS opened at $27.87 on Monday. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $31.70. The stock has a market capitalization of $709.32 million, a PE ratio of 11.71 and a beta of 0.51. The stock has a 50-day simple moving average of $27.80 and a 200 day simple moving average of $27.82.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. The business had revenue of $308.41 million during the quarter, compared to analysts’ expectations of $336.18 million. As a group, equities research analysts forecast that United Fire Group, Inc. will post 2.42 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.16 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.64 annualized dividend and a yield of 2.30%. United Fire Group’s dividend payout ratio (DPR) is 25.30%.

Analysts Set New Price Targets

UFCS has been the subject of a number of analyst reports. Jones Trading reaffirmed a “buy” rating and issued a $32.00 price target on shares of United Fire Group in a research report on Monday, May 12th. Wall Street Zen raised United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 15th.

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.