Amalgamated Bank Has $173,000 Position in United Fire Group, Inc (NASDAQ:UFCS)

Amalgamated Bank reduced its position in shares of United Fire Group, Inc (NASDAQ:UFCS) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,884 shares of the insurance provider’s stock after selling 408 shares during the period. Amalgamated Bank’s holdings in United Fire Group were worth $173,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of United Fire Group by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,936 shares of the insurance provider’s stock valued at $340,000 after acquiring an additional 456 shares during the last quarter. GAMMA Investing LLC increased its position in United Fire Group by 270.2% during the first quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider’s stock worth $39,000 after buying an additional 970 shares during the last quarter. Point72 Asset Management L.P. increased its position in United Fire Group by 21.2% during the fourth quarter. Point72 Asset Management L.P. now owns 6,558 shares of the insurance provider’s stock worth $187,000 after buying an additional 1,147 shares during the last quarter. Deutsche Bank AG increased its position in United Fire Group by 9.0% during the fourth quarter. Deutsche Bank AG now owns 15,821 shares of the insurance provider’s stock worth $450,000 after buying an additional 1,304 shares during the last quarter. Finally, Legal & General Group Plc increased its position in United Fire Group by 3.1% during the fourth quarter. Legal & General Group Plc now owns 55,882 shares of the insurance provider’s stock worth $1,590,000 after buying an additional 1,676 shares during the last quarter. 62.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on UFCS shares. Jones Trading reiterated a “buy” rating and issued a $32.00 price target on shares of United Fire Group in a research note on Monday, May 12th. Wall Street Zen upgraded shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 15th.

United Fire Group Stock Performance

Shares of NASDAQ UFCS opened at $27.12 on Friday. United Fire Group, Inc has a fifty-two week low of $18.04 and a fifty-two week high of $31.70. The stock has a market cap of $690.20 million, a price-to-earnings ratio of 10.72 and a beta of 0.50. The firm’s 50-day simple moving average is $28.18 and its 200 day simple moving average is $27.54.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $308.41 million for the quarter, compared to analysts’ expectations of $336.18 million. United Fire Group had a net margin of 5.13% and a return on equity of 9.01%. On average, sell-side analysts predict that United Fire Group, Inc will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.36%. United Fire Group’s dividend payout ratio is currently 25.30%.

United Fire Group Company 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 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.