CSM Advisors LLC Acquires Shares of 144,745 United Fire Group, Inc $UFCS

CSM Advisors LLC bought a new stake in United Fire Group, Inc (NASDAQ:UFCS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 144,745 shares of the insurance provider’s stock, valued at approximately $4,154,000. CSM Advisors LLC owned about 0.57% of United Fire Group at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of United Fire Group by 3.7% during the first quarter. Vanguard Group Inc. now owns 1,399,527 shares of the insurance provider’s stock worth $41,230,000 after purchasing an additional 49,290 shares during the period. Systematic Financial Management LP lifted its stake in shares of United Fire Group by 5.6% in the 1st quarter. Systematic Financial Management LP now owns 583,334 shares of the insurance provider’s stock worth $17,185,000 after acquiring an additional 31,140 shares during the period. American Century Companies Inc. lifted its stake in shares of United Fire Group by 76.5% in the 1st quarter. American Century Companies Inc. now owns 252,449 shares of the insurance provider’s stock worth $7,437,000 after acquiring an additional 109,453 shares during the period. AQR Capital Management LLC increased its stake in shares of United Fire Group by 79.6% during the first quarter. AQR Capital Management LLC now owns 188,758 shares of the insurance provider’s stock worth $5,561,000 after acquiring an additional 83,654 shares during the period. Finally, Bridgeway Capital Management LLC increased its stake in shares of United Fire Group by 35.9% during the first quarter. Bridgeway Capital Management LLC now owns 173,663 shares of the insurance provider’s stock worth $5,116,000 after acquiring an additional 45,899 shares during the period. Institutional investors and hedge funds own 62.68% of the company’s stock.

Insider Activity at United Fire Group

In other news, Director John Paul E. Besong sold 2,450 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $32.26, for a total transaction of $79,037.00. Following the completion of the transaction, the director directly owned 24,494 shares of the company’s stock, valued at $790,176.44. This trade represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.12% of the stock is owned by corporate insiders.

United Fire Group Stock Up 0.5%

UFCS opened at $35.33 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $900.63 million, a price-to-earnings ratio of 10.07 and a beta of 0.49. United Fire Group, Inc has a one year low of $23.55 and a one year high of $35.84. The business’s fifty day moving average is $31.17 and its two-hundred day moving average is $29.39.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings results on Tuesday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.81. United Fire Group had a return on equity of 11.84% and a net margin of 6.94%.The business had revenue of $328.43 million during the quarter, compared to analysts’ expectations of $354.46 million. Analysts anticipate that United Fire Group, Inc will post 2.42 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 29th. United Fire Group’s dividend payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UFCS. Zacks Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Weiss Ratings upgraded United Fire Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Wall Street Zen lowered United Fire Group from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Jones Trading raised their target price on United Fire Group from $32.00 to $33.00 and gave the company a “buy” rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

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.