United Fire Group, Inc. (NASDAQ:UFCS) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in United Fire Group, Inc. (NASDAQ:UFCS) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,342 shares of the insurance provider’s stock after selling 1,307 shares during the quarter. Rhumbline Advisers’ holdings in United Fire Group were worth $1,447,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in United Fire Group during the second quarter worth $4,770,000. Charles Schwab Investment Management Inc. boosted its stake in shares of United Fire Group by 8.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,590 shares of the insurance provider’s stock worth $7,315,000 after acquiring an additional 27,213 shares in the last quarter. Mitchell Sinkler & Starr PA acquired a new stake in shares of United Fire Group during the 1st quarter valued at about $283,000. UniSuper Management Pty Ltd purchased a new position in shares of United Fire Group in the 1st quarter valued at about $265,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in United Fire Group in the 1st quarter worth about $257,000. Hedge funds and other institutional investors own 62.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Piper Sandler dropped their price objective on United Fire Group from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. StockNews.com cut shares of United Fire Group from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.

United Fire Group Stock Down 0.8 %

UFCS stock opened at $21.03 on Friday. United Fire Group, Inc. has a 52 week low of $18.04 and a 52 week high of $25.55. The firm has a 50-day simple moving average of $20.66 and a 200-day simple moving average of $21.50. The stock has a market capitalization of $531.97 million, a P/E ratio of -30.48 and a beta of 0.36.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $301.17 million for the quarter, compared to analyst estimates of $300.80 million. United Fire Group had a net margin of 3.17% and a return on equity of 5.23%. During the same period in the previous year, the company earned ($2.27) EPS. On average, analysts expect that United Fire Group, Inc. will post 1.1 earnings per share for the current year.

United Fire Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 3.04%. United Fire Group’s payout ratio is currently -92.75%.

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; 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.