Amalgamated Bank Cuts Stock Position in United Fire Group, Inc. (NASDAQ:UFCS)

Amalgamated Bank lowered its position in United Fire Group, Inc. (NASDAQ:UFCS) by 8.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,234 shares of the insurance provider’s stock after selling 560 shares during the period. Amalgamated Bank’s holdings in United Fire Group were worth $134,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in United Fire Group during the 2nd quarter valued at about $4,770,000. Bank of New York Mellon Corp grew its stake 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 worth $4,154,000 after acquiring an additional 1,023 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of United Fire Group by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 190,672 shares of the insurance provider’s stock valued at $4,098,000 after acquiring an additional 2,541 shares in the last quarter. Empowered Funds LLC raised its position in shares of United Fire Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 62,592 shares of the insurance provider’s stock valued at $1,363,000 after purchasing an additional 4,725 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its stake in United Fire Group by 45.0% in the 2nd quarter. WINTON GROUP Ltd now owns 43,008 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 13,338 shares in the last quarter. Institutional investors own 62.68% of the company’s stock.

United Fire Group Trading Down 0.9 %

Shares of NASDAQ:UFCS opened at $20.75 on Wednesday. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $25.55. The company has a market cap of $525.81 million, a PE ratio of -30.07 and a beta of 0.36. The company’s 50 day moving average is $20.52 and its 200 day moving average is $21.43.

United Fire Group (NASDAQ:UFCS) last posted its 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). The company had revenue of $301.17 million for the quarter, compared to analyst estimates of $300.80 million. United Fire Group had a return on equity of 5.23% and a net margin of 3.17%. During the same period last year, the business earned ($2.27) earnings per share. Equities research analysts predict that United Fire Group, Inc. will post 1.1 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The firm 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 dividend on an annualized basis 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 (DPR) is presently -92.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on UFCS shares. Piper Sandler cut 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 note on Thursday, August 8th. StockNews.com lowered United Fire Group from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.

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.