Systematic Financial Management LP Has $10.16 Million Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Systematic Financial Management LP raised its stake in United Fire Group, Inc. (NASDAQ:UFCS) by 11.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,633 shares of the insurance provider’s stock after acquiring an additional 48,049 shares during the quarter. Systematic Financial Management LP owned about 1.92% of United Fire Group worth $10,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in United Fire Group in the 2nd quarter valued at about $4,770,000. Foundry Partners LLC grew its position in shares of United Fire Group by 71.9% during the 3rd quarter. Foundry Partners LLC now owns 178,155 shares of the insurance provider’s stock worth $3,729,000 after buying an additional 74,540 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of United Fire Group by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,986 shares of the insurance provider’s stock worth $915,000 after buying an additional 1,071 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of United Fire Group during the 3rd quarter worth approximately $761,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of United Fire Group by 126.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,324 shares of the insurance provider’s stock worth $2,497,000 after buying an additional 66,676 shares during the period. Institutional investors and hedge funds own 62.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on UFCS shares. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Piper Sandler upgraded shares of United Fire Group from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $19.00 to $26.00 in a research report on Monday, November 18th.

United Fire Group Stock Performance

Shares of NASDAQ UFCS opened at $31.54 on Friday. The stock has a market cap of $799.22 million, a P/E ratio of 16.26 and a beta of 0.53. The firm has a 50 day moving average price of $23.54 and a 200 day moving average price of $21.90. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.67.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.60. The firm had revenue of $322.96 million during the quarter, compared to analysts’ expectations of $306.80 million. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. During the same quarter in the previous year, the company earned $0.31 earnings per share. Analysts predict that United Fire Group, Inc. will post 1.84 earnings per share for the current fiscal year.

United Fire Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, November 29th. United Fire Group’s dividend payout ratio is currently 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.