Citigroup Inc. lowered its position in shares of United Fire Group, Inc (NASDAQ:UFCS) by 10.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,437 shares of the insurance provider’s stock after selling 2,153 shares during the quarter. Citigroup Inc. owned 0.08% of United Fire Group worth $857,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in shares of United Fire Group by 1.8% during the first quarter. Arizona State Retirement System now owns 11,321 shares of the insurance provider’s stock valued at $484,000 after acquiring an additional 200 shares during the period. Oppenheimer Asset Management Inc. increased its stake in United Fire Group by 0.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 26,869 shares of the insurance provider’s stock valued at $1,184,000 after buying an additional 202 shares during the period. Rhumbline Advisers increased its stake in United Fire Group by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 44,878 shares of the insurance provider’s stock valued at $1,977,000 after buying an additional 273 shares during the period. Mason Street Advisors LLC increased its stake in United Fire Group by 7.4% in the 1st quarter. Mason Street Advisors LLC now owns 5,060 shares of the insurance provider’s stock valued at $216,000 after buying an additional 350 shares during the period. Finally, Legal & General Group Plc increased its stake in United Fire Group by 1.2% in the 1st quarter. Legal & General Group Plc now owns 37,704 shares of the insurance provider’s stock valued at $1,613,000 after buying an additional 438 shares during the period. Institutional investors and hedge funds own 58.23% of the company’s stock.

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United Fire Group, Inc (NASDAQ:UFCS) opened at 46.61 on Monday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 25.60 and a beta of 0.75. United Fire Group, Inc has a 1-year low of $37.54 and a 1-year high of $50.75. The firm has a 50-day moving average of $43.14 and a 200 day moving average of $43.40.

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 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%. Analysts expect that United Fire Group, Inc will post $1.60 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, August 30th. This represents a $1.12 annualized dividend and a yield of 2.40%. United Fire Group’s dividend payout ratio (DPR) is currently 61.20%.

Several research analysts have weighed in on the stock. BidaskClub lowered shares of United Fire Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Sandler O’Neill upgraded shares of United Fire Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $46.00 to $47.00 in a research note on Friday, September 22nd.

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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