Teacher Retirement System of Texas Has $1.80 Million Stock Holdings in United Fire Group, Inc $UFCS

Teacher Retirement System of Texas lifted its stake in shares of United Fire Group, Inc (NASDAQ:UFCS) by 10.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,794 shares of the insurance provider’s stock after purchasing an additional 5,875 shares during the quarter. Teacher Retirement System of Texas owned 0.25% of United Fire Group worth $1,802,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in United Fire Group during the second quarter worth about $1,589,000. AlphaQuest LLC acquired a new position in shares of United Fire Group in the 2nd quarter valued at approximately $178,000. R Squared Ltd bought a new stake in shares of United Fire Group during the 2nd quarter worth approximately $225,000. New York State Teachers Retirement System boosted its position in shares of United Fire Group by 11.6% during the 2nd quarter. New York State Teachers Retirement System now owns 39,114 shares of the insurance provider’s stock worth $1,123,000 after acquiring an additional 4,058 shares in the last quarter. Finally, CWM LLC increased its stake in United Fire Group by 99.4% in the second quarter. CWM LLC now owns 10,439 shares of the insurance provider’s stock valued at $300,000 after acquiring an additional 5,203 shares during the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

United Fire Group Stock Up 1.0%

Shares of UFCS opened at $30.53 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.37 and a current ratio of 0.37. United Fire Group, Inc has a 52 week low of $19.33 and a 52 week high of $32.58. The stock has a market capitalization of $778.27 million, a price-to-earnings ratio of 8.70 and a beta of 0.49. The stock has a fifty day moving average of $30.91 and a 200-day moving average of $29.19.

United Fire Group (NASDAQ:UFCS) last issued its earnings results 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 business had revenue of $314.80 million during the quarter, compared to analysts’ expectations of $337.99 million. United Fire Group had a return on equity of 11.84% and a net margin of 6.94%. As a group, sell-side analysts anticipate that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.1%. United Fire Group’s dividend payout ratio is currently 18.23%.

Insider Activity

In related news, Director John Paul E. Besong sold 2,450 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $32.26, for a total value of $79,037.00. Following the completion of the transaction, the director owned 24,494 shares in the company, valued at $790,176.44. This trade represents a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UFCS has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of United Fire Group in a research note on Wednesday, October 8th. Zacks Research raised United Fire Group to a “strong-buy” rating in a report on Friday, August 8th. Finally, Jones Trading upped their price objective on United Fire Group from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, United Fire Group presently has an average rating of “Moderate Buy” and an average price target of $30.50.

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.