XTX Topco Ltd Buys New Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

XTX Topco Ltd purchased a new position in United Fire Group, Inc. (NASDAQ:UFCS) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 9,915 shares of the insurance provider’s stock, valued at approximately $213,000.

A number of other institutional investors have also added to or reduced their stakes in UFCS. Assenagon Asset Management S.A. purchased a new position in shares of United Fire Group in the second quarter worth $4,770,000. Price T Rowe Associates Inc. MD increased its holdings in United Fire Group by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,986 shares of the insurance provider’s stock valued at $915,000 after acquiring an additional 1,071 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in United Fire Group in the 1st quarter worth $202,000. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $7,315,000 after purchasing an additional 27,213 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of United Fire Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 193,283 shares of the insurance provider’s stock valued at $4,154,000 after purchasing an additional 1,023 shares in the last quarter. 62.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on UFCS shares. StockNews.com downgraded United Fire Group from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Piper Sandler decreased 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.

United Fire Group Stock Up 0.1 %

UFCS stock opened at $20.76 on Monday. United Fire Group, Inc. has a 52 week low of $18.04 and a 52 week high of $25.55. The firm has a market capitalization of $525.14 million, a P/E ratio of -30.09 and a beta of 0.36. The company has a fifty day simple moving average of $20.53 and a two-hundred day simple moving average of $21.44.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). United Fire Group had a return on equity of 5.23% and a net margin of 3.17%. The company had revenue of $301.17 million during the quarter, compared to analysts’ expectations of $300.80 million. During the same quarter in the prior year, the business posted ($2.27) EPS. As a group, analysts anticipate that United Fire Group, Inc. will post 1.1 EPS for the current year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, August 30th. United Fire Group’s dividend 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.