Earnest Partners LLC boosted its stake in United Fire Group, Inc. (NASDAQ:UFCS) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,458,081 shares of the insurance provider’s stock after buying an additional 14,617 shares during the quarter. Earnest Partners LLC owned approximately 5.77% of United Fire Group worth $70,659,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Chicago Equity Partners LLC purchased a new position in United Fire Group in the 2nd quarter valued at about $795,000. Strs Ohio lifted its stake in United Fire Group by 7.7% in the 2nd quarter. Strs Ohio now owns 5,600 shares of the insurance provider’s stock valued at $271,000 after buying an additional 400 shares in the last quarter. Texas Permanent School Fund lifted its stake in United Fire Group by 3.9% in the 1st quarter. Texas Permanent School Fund now owns 14,493 shares of the insurance provider’s stock valued at $633,000 after buying an additional 547 shares in the last quarter. 6 Meridian lifted its stake in United Fire Group by 3.1% in the 2nd quarter. 6 Meridian now owns 13,450 shares of the insurance provider’s stock valued at $652,000 after buying an additional 410 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in United Fire Group by 200.3% in the 1st quarter. SG Americas Securities LLC now owns 9,557 shares of the insurance provider’s stock valued at $418,000 after buying an additional 6,374 shares in the last quarter. 61.36% of the stock is currently owned by hedge funds and other institutional investors.
UFCS has been the subject of a number of recent research reports. BidaskClub upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. TheStreet downgraded shares of United Fire Group from a “b-” rating to a “c+” rating in a report on Wednesday, August 28th.
United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Wednesday, August 7th. The insurance provider reported ($0.59) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.60). The business had revenue of $304.20 million during the quarter. United Fire Group had a net margin of 1.91% and a return on equity of 0.11%.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.33 dividend. The ex-dividend date is Thursday, August 29th. This represents a $1.32 dividend on an annualized basis and a yield of 2.81%.
In other news, VP Neal R. Scharmer sold 3,041 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $48.88, for a total transaction of $148,644.08. Following the completion of the sale, the vice president now owns 16,422 shares in the company, valued at approximately $802,707.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Neal R. Scharmer sold 1,824 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $49.70, for a total transaction of $90,652.80. Following the sale, the vice president now owns 17,471 shares of the company’s stock, valued at approximately $868,308.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,026 shares of company stock valued at $394,639. 6.66% of the stock is owned by insiders.
United Fire Group 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, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners.
Further Reading: Why do analysts give a neutral rating?
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