Empowered Funds LLC Raises Stock Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Empowered Funds LLC boosted its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,070 shares of the insurance provider’s stock after purchasing an additional 3,618 shares during the quarter. Empowered Funds LLC owned about 0.28% of United Fire Group worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in UFCS. Innealta Capital LLC purchased a new position in shares of United Fire Group in the 2nd quarter worth approximately $65,000. Lion Street Advisors LLC purchased a new position in United Fire Group in the second quarter worth $201,000. Janus Henderson Group PLC acquired a new position in shares of United Fire Group during the first quarter worth $202,000. XTX Topco Ltd purchased a new stake in shares of United Fire Group during the 2nd quarter valued at $213,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of United Fire Group in the 2nd quarter worth $223,000. 62.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

UFCS has been the topic of several recent analyst reports. Piper Sandler raised United Fire Group from an “underweight” rating to a “neutral” rating and upped their target price for the company from $19.00 to $26.00 in a research report on Monday. StockNews.com raised shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, October 4th.

United Fire Group Stock Performance

United Fire Group stock opened at $29.66 on Friday. The business’s 50-day simple moving average is $21.41 and its two-hundred day simple moving average is $21.35. The company has a market cap of $751.58 million, a PE ratio of 15.23 and a beta of 0.37. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $29.77.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.60. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. 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 prior year, the firm earned $0.31 earnings per share. As a group, analysts predict that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 2.16%. United Fire Group’s dividend payout ratio is presently 32.99%.

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.