Quantamental Technologies LLC Buys New Shares in United Fire Group, Inc. (NASDAQ:UFCS)

Quantamental Technologies LLC bought a new stake in United Fire Group, Inc. (NASDAQ:UFCS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 690 shares of the insurance provider’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UFCS. Bank of Montreal Can lifted its stake in United Fire Group by 56.0% during the first quarter. Bank of Montreal Can now owns 1,164 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 418 shares during the period. Hillsdale Investment Management Inc. bought a new position in United Fire Group during the second quarter worth about $102,000. Canandaigua National Bank & Trust Co. bought a new position in United Fire Group during the second quarter worth about $211,000. BNP Paribas Arbitrage SA lifted its stake in United Fire Group by 181.3% during the first quarter. BNP Paribas Arbitrage SA now owns 4,846 shares of the insurance provider’s stock worth $212,000 after purchasing an additional 3,123 shares during the period. Finally, Buckingham Asset Management LLC bought a new position in United Fire Group during the second quarter worth about $213,000. Institutional investors and hedge funds own 61.36% of the company’s stock.

UFCS has been the subject of a number of analyst reports. TheStreet cut shares of United Fire Group from a “b-” rating to a “c+” rating in a research note on Wednesday, August 28th. BidaskClub upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd.

UFCS traded up $0.51 during midday trading on Friday, reaching $47.43. 2,238 shares of the company’s stock were exchanged, compared to its average volume of 63,396. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 2,346.00 and a beta of -0.07. United Fire Group, Inc. has a one year low of $40.86 and a one year high of $56.21. The business has a 50-day simple moving average of $47.21 and a two-hundred day simple moving average of $46.52.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Wednesday, August 7th. The insurance provider reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.60). The firm had revenue of $304.20 million for the quarter. United Fire Group had a return on equity of 0.11% and a net margin of 1.91%.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Thursday, August 29th.

In other news, VP Neal R. Scharmer sold 985 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $48.93, for a total transaction of $48,196.05. Following the completion of the sale, the vice president now owns 16,662 shares of the company’s stock, valued at $815,271.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Neal R. Scharmer sold 3,041 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $48.88, for a total transaction of $148,644.08. Following the sale, the vice president now directly owns 16,422 shares of the company’s stock, valued at approximately $802,707.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,026 shares of company stock valued at $394,639. Company insiders own 6.66% of the company’s stock.

About United Fire Group

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, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners.

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

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