D. E. Shaw & Co. Inc. boosted its stake in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,639 shares of the insurance provider's stock after acquiring an additional 15,016 shares during the period. D. E. Shaw & Co. Inc. owned about 0.34% of United Fire Group worth $2,436,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of UFCS. R Squared Ltd acquired a new position in United Fire Group in the fourth quarter valued at $27,000. NewEdge Advisors LLC acquired a new position in United Fire Group in the fourth quarter valued at $60,000. Aquatic Capital Management LLC increased its stake in United Fire Group by 716.3% in the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock valued at $70,000 after purchasing an additional 2,149 shares during the period. Globeflex Capital L P acquired a new position in United Fire Group in the fourth quarter valued at $119,000. Finally, KLP Kapitalforvaltning AS acquired a new position in United Fire Group in the fourth quarter valued at $131,000. 62.68% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Jones Trading reiterated a "buy" rating and set a $32.00 price target on shares of United Fire Group in a research note on Monday, May 12th. Finally, Piper Sandler increased their price target on shares of United Fire Group from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th.
Get Our Latest Analysis on United Fire Group
Insiders Place Their Bets
In other United Fire Group news, major shareholder Dee Ann Mcintyre sold 2,500 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $27.31, for a total transaction of $68,275.00. Following the transaction, the insider now directly owns 446,863 shares in the company, valued at approximately $12,203,828.53. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.12% of the stock is currently owned by company insiders.
United Fire Group Stock Up 0.8%
NASDAQ UFCS traded up $0.22 during trading hours on Friday, hitting $27.80. 76,805 shares of the stock were exchanged, compared to its average volume of 126,953. The company has a market cap of $707.54 million, a price-to-earnings ratio of 11.68 and a beta of 0.49. United Fire Group, Inc. has a 12-month low of $18.04 and a 12-month high of $31.70. The stock has a 50-day moving average of $27.90 and a 200 day moving average of $27.69.
United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. The firm had revenue of $308.41 million during the quarter, compared to analysts' expectations of $336.18 million. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. On average, equities research analysts expect that United Fire Group, Inc. will post 2.42 earnings per share for the current year.
United Fire Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, June 6th. This represents a $0.64 annualized dividend and a yield of 2.30%. United Fire Group's payout ratio is currently 25.30%.
About United Fire Group
(
Free Report)
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; and reinsurance coverage for property and casualty insurance. Its commercial lines include fire and allied lines, other liability, automobile, workers' compensation, fidelity and surety coverage, and other insurance products; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners, as well as provides assumed reinsurance products.
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