195,270 Shares in United Fire Group, Inc $UFCS Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH acquired a new stake in shares of United Fire Group, Inc (NASDAQ:UFCS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 195,270 shares of the insurance provider’s stock, valued at approximately $5,940,000. Allianz Asset Management GmbH owned approximately 0.77% of United Fire Group as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of UFCS. Ellsworth Advisors LLC acquired a new stake in United Fire Group in the 3rd quarter worth approximately $777,000. Campbell & CO Investment Adviser LLC bought a new position in shares of United Fire Group in the second quarter valued at approximately $371,000. Inspire Investing LLC bought a new position in shares of United Fire Group in the third quarter valued at approximately $998,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of United Fire Group by 9.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 165,938 shares of the insurance provider’s stock worth $4,762,000 after buying an additional 14,178 shares during the last quarter. Finally, CSM Advisors LLC bought a new stake in shares of United Fire Group during the 2nd quarter worth $4,154,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on UFCS. Piper Sandler lifted their target price on shares of United Fire Group from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Jones Trading increased their target price on United Fire Group from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Zacks Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of United Fire Group in a report on Monday, December 29th. Finally, Wall Street Zen cut United Fire Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.50.

United Fire Group Price Performance

Shares of UFCS stock opened at $36.06 on Tuesday. United Fire Group, Inc has a 12 month low of $24.57 and a 12 month high of $38.10. The company has a market capitalization of $919.89 million, a P/E ratio of 8.50 and a beta of 0.46. The stock has a 50 day moving average of $36.04 and a two-hundred day moving average of $33.18. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16.

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, December 5th. United Fire Group’s payout ratio is 15.09%.

United Fire Group Company Profile

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.