Dimensional Fund Advisors LP cut its stake in shares of United Fire Group, Inc (NASDAQ:UFCS) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,136,046 shares of the insurance provider’s stock after selling 8,986 shares during the quarter. Dimensional Fund Advisors LP owned approximately 8.39% of United Fire Group worth $94,115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in United Fire Group by 42,903.1% during the first quarter. BlackRock Inc. now owns 2,405,592 shares of the insurance provider’s stock worth $102,887,000 after buying an additional 2,399,998 shares during the last quarter. Vanguard Group Inc. raised its holdings in United Fire Group by 7.8% during the first quarter. Vanguard Group Inc. now owns 1,867,924 shares of the insurance provider’s stock worth $79,890,000 after buying an additional 135,228 shares during the last quarter. Northern Trust Corp raised its holdings in United Fire Group by 1.2% during the second quarter. Northern Trust Corp now owns 608,221 shares of the insurance provider’s stock worth $26,798,000 after buying an additional 7,205 shares during the last quarter. State Street Corp raised its holdings in United Fire Group by 5.2% during the first quarter. State Street Corp now owns 502,290 shares of the insurance provider’s stock worth $21,485,000 after buying an additional 24,742 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in United Fire Group by 1.0% during the second quarter. New York State Common Retirement Fund now owns 350,025 shares of the insurance provider’s stock worth $15,422,000 after buying an additional 3,399 shares during the last quarter. 58.23% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on the stock. BidaskClub downgraded shares of United Fire Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Sidoti assumed coverage on shares of United Fire Group in a report on Friday, June 9th. They set a “neutral” rating and a $48.00 price objective on the stock. Finally, Sandler O’Neill upgraded shares of 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 report on Friday, September 22nd.

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United Fire Group, Inc (NASDAQ UFCS) opened at 46.13 on Thursday. United Fire Group, Inc has a 12-month low of $37.54 and a 12-month high of $50.75. The firm has a market cap of $1.15 billion, a P/E ratio of 25.33 and a beta of 0.75. The firm’s 50-day moving average is $42.95 and its 200 day moving average is $43.35.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). United Fire Group had a net margin of 4.07% and a return on equity of 4.33%. The business had revenue of $284.30 million for the quarter. Equities analysts forecast that United Fire Group, Inc will post $1.60 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Wednesday, August 30th. United Fire Group’s dividend payout ratio (DPR) is presently 61.20%.

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

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