Public Employees Retirement System of Ohio Purchases 3,514 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Public Employees Retirement System of Ohio increased its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 37.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,937 shares of the insurance provider’s stock after buying an additional 3,514 shares during the quarter. Public Employees Retirement System of Ohio owned 0.05% of United Fire Group worth $256,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of UFCS. Captrust Financial Advisors grew its stake in United Fire Group by 72.0% in the first quarter. Captrust Financial Advisors now owns 1,488 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 623 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in United Fire Group by 185.8% in the third quarter. Tower Research Capital LLC TRC now owns 2,092 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 1,360 shares in the last quarter. UBS Group AG grew its stake in United Fire Group by 34.5% in the third quarter. UBS Group AG now owns 3,182 shares of the insurance provider’s stock valued at $91,000 after purchasing an additional 817 shares in the last quarter. Quantbot Technologies LP bought a new position in United Fire Group in the third quarter valued at approximately $67,000. Finally, PNC Financial Services Group Inc. grew its stake in United Fire Group by 51.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,838 shares of the insurance provider’s stock valued at $119,000 after purchasing an additional 1,302 shares in the last quarter. 62.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th.

United Fire Group Trading Up 1.5 %

Shares of NASDAQ UFCS opened at $21.85 on Thursday. United Fire Group, Inc. has a 12 month low of $18.41 and a 12 month high of $28.58. The stock has a 50 day moving average of $22.61 and a 200-day moving average of $21.07. The company has a market capitalization of $552.37 million, a P/E ratio of -18.52 and a beta of 0.36.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, February 13th. The insurance provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.53 by $0.12. United Fire Group had a negative return on equity of 4.38% and a negative net margin of 2.71%. The company had revenue of $287.32 million during the quarter, compared to the consensus estimate of $278.70 million. Analysts predict that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 2.93%. United Fire Group’s dividend payout ratio is currently -54.24%.

Insider Transactions at United Fire Group

In other news, VP Micah G. Woolstenhulme purchased 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired at an average cost of $21.76 per share, with a total value of $32,640.00. Following the acquisition, the vice president now owns 32,763 shares in the company, valued at approximately $712,922.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $22.15, for a total transaction of $55,375.00. Following the completion of the sale, the director now directly owns 454,363 shares of the company’s stock, valued at approximately $10,064,140.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Micah G. Woolstenhulme purchased 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average cost of $21.76 per share, with a total value of $32,640.00. Following the completion of the acquisition, the vice president now owns 32,763 shares in the company, valued at approximately $712,922.88. The disclosure for this purchase can be found here. 7.54% of the stock is currently owned by corporate insiders.

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.