United Fire Group, Inc. (NASDAQ:UFCS) Stake Boosted by Marshall Wace LLP

Marshall Wace LLP increased its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 929.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,842 shares of the insurance provider’s stock after acquiring an additional 90,139 shares during the quarter. Marshall Wace LLP owned 0.39% of United Fire Group worth $2,146,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC acquired a new stake in United Fire Group during the 2nd quarter valued at $65,000. Janus Henderson Group PLC acquired a new position in United Fire Group during the first quarter valued at $202,000. Lion Street Advisors LLC purchased a new stake in United Fire Group in the 2nd quarter worth about $201,000. XTX Topco Ltd acquired a new stake in United Fire Group during the 2nd quarter worth about $213,000. Finally, Commonwealth Equity Services LLC acquired a new stake in United Fire Group during the 2nd quarter worth about $223,000. Hedge funds and other institutional investors own 62.68% of the company’s stock.

United Fire Group Trading Up 2.1 %

United Fire Group stock opened at $20.10 on Friday. United Fire Group, Inc. has a 1-year low of $18.04 and a 1-year high of $25.55. The firm’s fifty day simple moving average is $20.38 and its 200-day simple moving average is $21.39. The company has a market capitalization of $509.33 million, a P/E ratio of -29.13 and a beta of 0.36.

United Fire Group (NASDAQ:UFCS) last posted its earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) earnings per share 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 the consensus estimate 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 quarter last year, the business earned ($2.27) earnings per share. On average, equities research analysts predict that United Fire Group, Inc. will post 1.1 earnings per share for the current year.

United Fire Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 annualized dividend and a yield of 3.18%. United Fire Group’s dividend payout ratio (DPR) is currently -92.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of United Fire Group from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday.

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.