Federated Hermes Inc. Acquires 633 Shares of United Fire Group, Inc (NASDAQ:UFCS)

Federated Hermes Inc. lifted its holdings in United Fire Group, Inc (NASDAQ:UFCS) by 131.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,115 shares of the insurance provider’s stock after purchasing an additional 633 shares during the quarter. Federated Hermes Inc.’s holdings in United Fire Group were worth $33,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in United Fire Group during the first quarter worth $559,000. Teacher Retirement System of Texas raised its position 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 acquiring an additional 4,148 shares in the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 970 shares in the last quarter. Barclays PLC raised its position 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 acquiring an additional 54,332 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 acquiring an additional 55,616 shares in the last quarter. Institutional investors own 62.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jones Trading upped their price objective on shares of United Fire Group from $32.00 to $33.00 and gave the company a “buy” rating in a report on Monday. 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 Trading Up 3.0%

Shares of United Fire Group stock opened at $29.92 on Tuesday. The company has a market capitalization of $762.66 million, a price-to-earnings ratio of 8.52 and a beta of 0.53. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.14. United Fire Group, Inc has a 12-month low of $18.35 and a 12-month high of $31.70. The firm’s 50-day moving average price is $27.90 and its two-hundred day moving average price is $27.60.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.33. The firm had revenue of $314.80 million for the quarter, compared to the consensus estimate of $337.99 million. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. On average, analysts forecast that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.1%. United Fire Group’s dividend payout ratio is 18.23%.

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.