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UFCS United Fire

Founded in 1946 as United Fire & Casualty Company, United Fire Group, Inc., through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance. Through its subsidiaries, the Company is licensed as a property and casualty insurer in 49 states, plus the District of Columbia, and it's represented by approximately 1,000 independent agencies. A.M. Best Company assigns a rating of 'A' (Excellent) for members of the United Fire & Casualty Group.

Company profile

Ticker
UFCS
Exchange
CEO
Randy A. Ramlo
Employees
Location
Fiscal year end
Former names
UNITED FIRE & CASUALTY CO
SEC CIK
IRS number
452302834

UFCS stock data

(
)

Investment data

Data from SEC filings
48 long holdings
End of quarter 31 Mar 21
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$13.9M 116K NEW
$12.65M 228.68K NEW
$10.29M 76K NEW
$8.79M 57.74K NEW
$8.46M 82.02K NEW
$8.25M 38K NEW
$8.01M 205.09K NEW
$7.62M 100.52K NEW
$7.48M 20K NEW
$6.38M 66.06K NEW
$6.25M 38K NEW
$5.99M 90K NEW
$5.7M 22K NEW
$5.42M 140K NEW
$5.32M 40K NEW
$5.08M 87.43K NEW
$4.33M 80K NEW
$3.62M 56.67K NEW
$3.61M 275K NEW
$3.54M 15K NEW
$3.35M 5.63K NEW
$3.25M 23K NEW
$3.23M 17K NEW
$3.08M 101.66K NEW
$3.06M 22.5K NEW
$2.98M 21.37K NEW
$2.95M 25K NEW
$2.65M 72.91K NEW
$2.64M 56.67K NEW
$2.56M 40K NEW
$2.53M 48K NEW
$2.29M 104.69K NEW
$2.23M 40K NEW
$2.08M 26.9K NEW
$1.87M 160.14K NEW
$1.8M 46K NEW
$1.46M 6K NEW
$1.45M 40K NEW
$1.14M 12.6K NEW
$1.12M 5K NEW
$1.1M 5K NEW
$979K 36K NEW
$549K 10K NEW
$524K 5K NEW
$369K 3.41K NEW
$329K 10K NEW
$263K 2.5K NEW
$144K 928 NEW
418.68K EXIT
150K EXIT
157.02K EXIT
76K EXIT
38K EXIT
125.52K EXIT
57.74K EXIT
205.09K EXIT
66.06K EXIT
90K EXIT
38K EXIT
20K EXIT
254.69K EXIT
22K EXIT
140K EXIT
80K EXIT
56.67K EXIT
23K EXIT
15K EXIT
56.67K EXIT
275K EXIT
25K EXIT
101.66K EXIT
17K EXIT
5.63K EXIT
43.43K EXIT
72.91K EXIT
18K EXIT
56.67K EXIT
40K EXIT
160.14K EXIT
12K EXIT
40K EXIT
46K EXIT
40K EXIT
6K EXIT
9.76K EXIT
10.32K EXIT
5.35K EXIT
8K EXIT
5K EXIT
5K EXIT
12K EXIT
12.6K EXIT
45.77K EXIT
22.2K EXIT
3.71K EXIT
36K EXIT
7.72K EXIT
5K EXIT
8K EXIT
6K EXIT
6.81K EXIT
6K EXIT
3.5K EXIT
2K EXIT
10K EXIT
5.77K EXIT
4K EXIT
7K EXIT
8K EXIT
5K EXIT
10.06K EXIT
10K EXIT
4K EXIT
3.41K EXIT
5.03K EXIT
7.4K EXIT
10K EXIT
2.5K EXIT
2K EXIT
973 EXIT
1K EXIT
2K EXIT
928 EXIT
6.33K EXIT
6K EXIT
1K EXIT
1.5K EXIT
1.48K EXIT
1.25K EXIT
4.96K EXIT
1K EXIT
2.08K EXIT
1.8K EXIT
3K EXIT
1.71K EXIT
1.62K EXIT
6K EXIT
256 EXIT
1.07K EXIT
2.59K EXIT
800 EXIT
1.28K EXIT
400 EXIT
138 EXIT
163 EXIT
32 EXIT
Holdings list only includes long positions. Only includes long positions.

Calendar

5 May 21
3 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from United Fire earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 71.51M 71.51M 71.51M 71.51M 71.51M 71.51M
Cash burn (monthly) 5.48M 4.1M (positive/no burn) 3.48M (positive/no burn) (positive/no burn)
Cash used (since last report) 22.63M 16.94M n/a 14.4M n/a n/a
Cash remaining 48.88M 54.57M n/a 57.12M n/a n/a
Runway (months of cash) 8.9 13.3 n/a 16.4 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
26 May 21 Carlton Scott L Common Stock Sell Dispose S No No 30.7243 2,248 69.07K 87,901
19 May 21 Micah G Woolstenhulme Common Stock Grant Aquire A No No 0 4,627 0 18,007
19 May 21 Carlton Scott L Common Stock Grant Aquire A No No 0 1,851 0 90,149
19 May 21 John Paul E Besong Common Stock Grant Aquire A No No 0 1,851 0 14,700.481
19 May 21 Lura E McBride Common Stock Grant Aquire A No No 0 1,851 0 4,199

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

61.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 125 118 +5.9%
Opened positions 20 13 +53.8%
Closed positions 13 12 +8.3%
Increased positions 28 44 -36.4%
Reduced positions 55 36 +52.8%
13F shares
Current Prev Q Change
Total value 946.16M 555.24M +70.4%
Total shares 15.53M 15.65M -0.7%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 3.53M $122.79M +5.4%
Vanguard 2.33M $81.23M -0.6%
Earnest Partners 1.83M $63.8M +10.6%
Dimensional Fund Advisors 1.71M $59.38M -3.3%
STT State Street 722.02K $25.13M +3.8%
Royce & Associates 508.87K $17.71M +108.4%
BAC Bank Of America 421K $14.65M +206.7%
NTRS Northern Trust 416.56K $14.5M -28.2%
Geode Capital Management 354.26K $12.33M +9.7%
New York State Common Retirement Fund 339.52K $11.82M -0.4%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -372.39K EXIT
BAC Bank Of America 421K +283.75K +206.7%
Royce & Associates 508.87K +264.69K +108.4%
BLK Blackrock 3.53M +182.07K +5.4%
Earnest Partners 1.83M +175.66K +10.6%
NTRS Northern Trust 416.56K -163.25K -28.2%
Systematic Financial Management 162.43K -160.88K -49.8%
Healthcare Of Ontario Pension Plan Trust Fund 1.2K -95.2K -98.8%
Mairs & Power 40.87K -76.16K -65.1%
Renaissance Technologies 49.86K -74.38K -59.9%

Financial report summary

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Risks
  • The occurrence, frequency and severity of catastrophe losses are unpredictable and may adversely affect our results of operations, liquidity and financial condition.
  • Our reserves for property and casualty insurance losses and loss settlement expenses are based on estimates and may be inadequate, adversely impacting our financial results.
  • Our geographic concentration ties our performance to the business, economic and regulatory conditions of certain states.
  • Unauthorized data access, cyber attacks and other security breaches could have an adverse impact on our business and reputation.
  • Conditions in the global capital markets and the economy generally may weaken materially and adversely affect our business and results of operations.
  • The effects of emerging claim and coverage issues and class action litigation on our business are uncertain.
  • We are subject to certain risks related to our investment portfolio that could negatively affect our profitability.
  • Our success depends primarily on our ability to underwrite risks effectively and adequately price the risks we underwrite.
  • The cyclical nature of the property and casualty insurance industry may affect our financial performance.
  • A downgrade or a potential downgrade in our financial strength or issuer credit ratings could result in a loss of business and could have a material adverse effect on our financial condition and results of operations.
  • We are exposed to credit risk in certain areas of our operations.
  • We are subject to comprehensive laws and regulations, changes to which may have an adverse effect on our financial condition and results of operations.
  • Market conditions may affect our access to and the cost of reinsurance and our reinsurers may not pay losses in a timely manner, or at all.
  • We face significant competitive pressures in our business that could cause demand for our products to fall or hinder our ability to introduce new products or services and keep pace with advances in technology, reducing our revenue and profitability.
  • Our business depends on the uninterrupted operations of our facilities, systems and business functions.
  • Adverse capital and credit market conditions may significantly affect our ability to meet liquidity needs, as well as our access to and the cost of capital.
  • We may experience difficulty in integrating future acquisitions to our operations.
  • The exclusions and limitations in our policies may not be enforceable.
  • The determination of the amount of impairments taken on our investments requires estimates and assumptions which are subject to differing interpretations and could materially impact our results of operations or financial position.
  • Certain provisions of our organizational documents, as well as applicable insurance laws, could impede an attempt to replace or remove our management or members of our Board of Directors, prevent the sale of the Company or prevent or frustrate any attempt by shareholders to change the direction of the Company, each of which could diminish the value of our common stock.
  • The ability of our subsidiaries to pay dividends may affect our liquidity and ability to meet our obligations.
  • Our internal controls are not fail-safe.
Management Discussion
  • For the three-month period ended March 31, 2021, net income was $18.7 million compared to a net loss of $72.5 million for the same period of 2020. The change was primarily due to an increase in net realized investment gains from an increase in the fair value of equity securities as compared to net realized investment losses in the same period of 2020, and a decrease in other underwriting expenses, partially offset by an increase in losses and loss settlement expenses, namely from catastrophe losses, and a decrease in net premiums earned.
  • Net premiums earned decreased 3.6 percent during the three-month period ended March 31, 2021 compared to the same period of 2020. The decrease in the three-month period ended March 31, 2021 was primarily due to our focus on improving profitability through non-renewal of under-performing accounts in our commercial auto line of business and exit of the personal lines business which began in September 2020. These were partially offset by growth in our reinsurance assumed business and the addition of our participation in Lloyd's syndicates.
  • Net investment income was $17.1 million for the first quarter of 2021 as compared to net investment income of $2.4 million for the same period in 2020. The increase in net investment income in the first quarter of 2021 as compared to the same period in 2020 was primarily due to an increase in the fair value of our investments in limited liability partnerships. The valuation of these investments in limited liability partnerships varies from period to period due to the current equity market conditions, specifically related to financial institutions.
Content analysis
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Constraining
Legalese
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H.S. sophomore Avg
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