United Fire & Casualty (UFCS) Shares Bought by Systematic Financial Management LP

Systematic Financial Management LP raised its position in United Fire & Casualty (NASDAQ:UFCS) by 4.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 504,422 shares of the insurance provider’s stock after acquiring an additional 20,141 shares during the quarter. Systematic Financial Management LP’s holdings in United Fire & Casualty were worth $24,142,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of UFCS. Elkfork Partners LLC purchased a new stake in United Fire & Casualty in the fourth quarter worth about $109,000. SG Americas Securities LLC purchased a new stake in shares of United Fire & Casualty during the first quarter worth about $176,000. Xact Kapitalforvaltning AB purchased a new stake in shares of United Fire & Casualty during the fourth quarter worth about $220,000. Unison Advisors LLC purchased a new stake in shares of United Fire & Casualty during the fourth quarter worth about $278,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of United Fire & Casualty during the fourth quarter worth about $334,000. 60.08% of the stock is currently owned by institutional investors.

Several analysts recently issued reports on UFCS shares. BidaskClub upgraded United Fire & Casualty from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 20th. Sandler O’Neill reiterated a “buy” rating and set a $53.00 target price on shares of United Fire & Casualty in a research report on Friday, April 6th. ValuEngine cut United Fire & Casualty from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Sidoti upgraded United Fire & Casualty from a “neutral” rating to a “buy” rating in a research report on Thursday, February 15th.

In other news, VP David E. Conner sold 4,485 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $45.11, for a total value of $202,318.35. Following the completion of the sale, the vice president now directly owns 14,382 shares of the company’s stock, valued at approximately $648,772.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Barrie W. Ernst sold 7,114 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $47.43, for a total value of $337,417.02. The disclosure for this sale can be found here. Insiders sold a total of 14,599 shares of company stock valued at $692,585 over the last ninety days. Corporate insiders own 6.24% of the company’s stock.

NASDAQ UFCS opened at $53.08 on Monday. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 43.87 and a beta of 0.46. United Fire & Casualty has a 1-year low of $38.95 and a 1-year high of $53.66.

United Fire & Casualty (NASDAQ:UFCS) last released its quarterly earnings results on Wednesday, May 9th. The insurance provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.17. The business had revenue of $258.66 million during the quarter. United Fire & Casualty had a return on equity of 3.25% and a net margin of 7.11%. During the same quarter in the prior year, the business earned $0.67 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.34%. This is a positive change from United Fire & Casualty’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, May 31st.

About United Fire & Casualty

United Fire Group, Inc, together with its subsidiaries, provides insurance protection for individuals and businesses in the United States. The company operates through two segments, Property and Casualty Insurance, and Life Insurance. The Property and Casualty Insurance segment offers commercial and personal lines of property and casualty insurance, as well as assumed reinsurance products.

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Institutional Ownership by Quarter for United Fire & Casualty (NASDAQ:UFCS)

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