New York State Teachers Retirement System decreased its holdings in United Fire Group, Inc. (NASDAQ:UFCS – Free Report) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,493 shares of the insurance provider’s stock after selling 1,300 shares during the period. New York State Teachers Retirement System owned 0.19% of United Fire Group worth $1,076,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in UFCS. Advisor Group Holdings Inc. lifted its holdings in shares of United Fire Group by 9.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 7,240 shares of the insurance provider’s stock valued at $225,000 after acquiring an additional 608 shares during the last quarter. Citigroup Inc. lifted its stake in United Fire Group by 10.4% in the first quarter. Citigroup Inc. now owns 23,023 shares of the insurance provider’s stock worth $716,000 after purchasing an additional 2,177 shares during the last quarter. PNC Financial Services Group Inc. lifted 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 worth $119,000 after purchasing an additional 1,302 shares during the last quarter. Bank of Montreal Can bought a new stake in United Fire Group in the first quarter worth about $225,000. Finally, MetLife Investment Management LLC lifted its stake in United Fire Group by 46.4% in the first quarter. MetLife Investment Management LLC now owns 10,952 shares of the insurance provider’s stock worth $340,000 after purchasing an additional 3,473 shares during the last quarter. Institutional investors own 62.15% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. StockNews.com assumed coverage on shares of United Fire Group in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Piper Sandler decreased their price objective on shares of United Fire Group from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, October 6th.
United Fire Group Stock Performance
Shares of NASDAQ:UFCS opened at $20.37 on Wednesday. The firm has a market cap of $514.55 million, a PE ratio of -8.78 and a beta of 0.23. The firm’s 50 day simple moving average is $19.81 and its 200-day simple moving average is $22.32. United Fire Group, Inc. has a one year low of $18.41 and a one year high of $33.97.
United Fire Group (NASDAQ:UFCS – Get Free Report) last issued its quarterly earnings data on Monday, August 7th. The insurance provider reported ($2.27) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.27). The company had revenue of $267.09 million for the quarter, compared to analyst estimates of $266.80 million. United Fire Group had a negative net margin of 5.58% and a negative return on equity of 8.70%. Equities research analysts predict that United Fire Group, Inc. will post -1.91 EPS for the current fiscal year.
United Fire Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.14%. The ex-dividend date was Thursday, August 31st. United Fire Group’s payout ratio is -27.59%.
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 commercial multiple peril and inland marine insurance, as well as assumed reinsurance products.
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