United Fire Group, Inc. (NASDAQ:UFCS) Position Raised by GSA Capital Partners LLP

GSA Capital Partners LLP increased its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 12.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,851 shares of the insurance provider’s stock after purchasing an additional 9,704 shares during the period. GSA Capital Partners LLP owned 0.33% of United Fire Group worth $1,776,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UFCS. BNP Paribas Financial Markets raised its holdings in United Fire Group by 66.0% during the first quarter. BNP Paribas Financial Markets now owns 18,986 shares of the insurance provider’s stock worth $413,000 after purchasing an additional 7,549 shares in the last quarter. Empowered Funds LLC raised its holdings in United Fire Group by 8.2% during the first quarter. Empowered Funds LLC now owns 62,592 shares of the insurance provider’s stock worth $1,363,000 after purchasing an additional 4,725 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in United Fire Group during the first quarter worth approximately $257,000. UniSuper Management Pty Ltd bought a new stake in United Fire Group during the first quarter worth approximately $265,000. Finally, Quadrature Capital Ltd bought a new stake in United Fire Group during the first quarter worth approximately $251,000. Institutional investors own 62.68% of the company’s stock.

United Fire Group Stock Performance

United Fire Group stock opened at $25.36 on Wednesday. The firm has a market cap of $642.62 million, a price-to-earnings ratio of 13.07 and a beta of 0.37. United Fire Group, Inc. has a 1 year low of $18.04 and a 1 year high of $25.72. The firm’s 50 day moving average price is $20.68 and its two-hundred day moving average price is $21.17.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.60. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. The firm had revenue of $322.96 million for the quarter, compared to analyst estimates of $306.80 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. As a group, equities analysts predict that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Friday, August 30th. United Fire Group’s dividend payout ratio (DPR) is currently 32.99%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on UFCS. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Piper Sandler decreased their price target on shares of United Fire Group from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th.

About United Fire Group

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.