Avantax Advisory Services Inc. Increases Stock Holdings in United Fire Group, Inc (NASDAQ:UFCS)

Avantax Advisory Services Inc. lifted its position in United Fire Group, Inc (NASDAQ:UFCS) by 18.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,794 shares of the insurance provider’s stock after purchasing an additional 4,253 shares during the quarter. Avantax Advisory Services Inc. owned about 0.11% of United Fire Group worth $789,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in United Fire Group during the first quarter worth about $559,000. Teacher Retirement System of Texas boosted its stake in United Fire Group by 7.9% during the first quarter. Teacher Retirement System of Texas now owns 56,919 shares of the insurance provider’s stock worth $1,677,000 after buying an additional 4,148 shares during the period. GAMMA Investing LLC boosted its stake 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 period. Barclays PLC boosted its stake in United Fire Group by 122.4% during the fourth quarter. Barclays PLC now owns 98,712 shares of the insurance provider’s stock worth $2,809,000 after buying an additional 54,332 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in United Fire Group by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider’s stock worth $39,981,000 after buying an additional 55,616 shares during the period. Hedge funds and other institutional investors own 62.68% of the company’s stock.

United Fire Group Trading Down 1.7%

NASDAQ UFCS opened at $26.11 on Monday. The firm has a 50 day simple moving average of $27.90 and a 200-day simple moving average of $27.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.34 and a current ratio of 0.34. United Fire Group, Inc has a one year low of $18.04 and a one year high of $31.70. The firm has a market cap of $664.50 million, a price-to-earnings ratio of 10.32 and a beta of 0.53.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. United Fire Group had a net margin of 5.13% and a return on equity of 9.01%. The business had revenue of $308.41 million during the quarter, compared to analyst estimates of $336.18 million. Equities research analysts anticipate that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.64 annualized dividend and a yield of 2.5%. United Fire Group’s dividend payout ratio (DPR) is 25.30%.

Wall Street Analysts Forecast Growth

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

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.