UBS Asset Management Americas Inc. acquired a new position in shares of United Fire Group, Inc (NASDAQ:UFCS) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,252 shares of the insurance provider’s stock, valued at approximately $231,000.
A number of other institutional investors and hedge funds also recently modified their holdings of UFCS. Parametric Portfolio Associates LLC grew its stake in United Fire Group by 13.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 65,591 shares of the insurance provider’s stock worth $2,805,000 after buying an additional 8,017 shares during the last quarter. Stifel Financial Corp grew its stake in United Fire Group by 11.1% during the 1st quarter. Stifel Financial Corp now owns 5,484 shares of the insurance provider’s stock worth $235,000 after buying an additional 549 shares during the last quarter. SG Americas Securities LLC bought a new position in United Fire Group during the 1st quarter worth $145,000. OppenheimerFunds Inc. grew its stake in United Fire Group by 38.6% during the 1st quarter. OppenheimerFunds Inc. now owns 19,885 shares of the insurance provider’s stock worth $851,000 after buying an additional 5,541 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in United Fire Group by 0.8% during the 1st quarter. Principal Financial Group Inc. now owns 172,279 shares of the insurance provider’s stock worth $7,368,000 after buying an additional 1,328 shares during the last quarter. Hedge funds and other institutional investors own 58.25% of the company’s stock.
A number of brokerages recently commented on UFCS. BidaskClub downgraded United Fire Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Sandler O’Neill upgraded United Fire Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $47.00 in a research note on Friday, September 22nd.
United Fire Group, Inc (UFCS) opened at $46.07 on Friday. The company has a market capitalization of $1,158.08, a PE ratio of 29.10 and a beta of 0.71.
United Fire Group (NASDAQ:UFCS) last released its earnings results on Wednesday, August 2nd. The insurance provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.06). The company had revenue of $284.30 million for the quarter. United Fire Group had a return on equity of 4.33% and a net margin of 4.07%.
About United Fire Group
United Fire Group, Inc, formerly United Fire & Casualty Company, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. The Company operates in two segments: property and casualty insurance, and life insurance. The Company’s property and casualty insurance segment consists of commercial lines insurance, including surety bonds, personal lines insurance and assumed insurance.
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