Jacobs Levy Equity Management Inc. Acquires 21,571 Shares of United Fire Group, Inc $UFCS

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in United Fire Group by 20.3%, owning 128,057 shares valued at approximately $3.77 million.
• United Fire Group's recent quarterly earnings exceeded analysts' expectations, reporting $0.90 earnings per share, surpassing estimates of $0.57.
• The company will pay a quarterly dividend of $0.16 on September 12th, representing a yield of 2.1%.

Jacobs Levy Equity Management Inc. raised its stake in shares of United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 20.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,057 shares of the insurance provider's stock after buying an additional 21,571 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.50% of United Fire Group worth $3,773,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of United Fire Group during the first quarter valued at approximately $559,000. Teacher Retirement System of Texas boosted its position in shares of United Fire Group by 7.9% in the first quarter. Teacher Retirement System of Texas now owns 56,919 shares of the insurance provider's stock worth $1,677,000 after purchasing an additional 4,148 shares during the period. Quantbot Technologies LP grew its holdings in United Fire Group by 859.3% during the 1st quarter. Quantbot Technologies LP now owns 8,797 shares of the insurance provider's stock valued at $259,000 after buying an additional 7,880 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of United Fire Group by 270.2% in the 1st quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock worth $39,000 after purchasing an additional 970 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in United Fire Group by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 1,399,527 shares of the insurance provider's stock valued at $41,230,000 after acquiring an additional 49,290 shares during the period. Institutional investors own 62.68% of the company's stock.

United Fire Group Trading Down 1.3%

UFCS traded down $0.43 during trading on Friday, hitting $31.65. The company's stock had a trading volume of 94,536 shares, compared to its average volume of 115,967. The stock has a market cap of $806.76 million, a PE ratio of 9.02 and a beta of 0.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.37 and a quick ratio of 0.37. The firm's 50 day moving average price is $29.18 and its 200-day moving average price is $28.45. United Fire Group, Inc has a twelve month low of $19.19 and a twelve month high of $32.22.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.33. The company had revenue of $314.80 million during the quarter, compared to analysts' expectations of $337.99 million. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. On average, analysts expect that United Fire Group, Inc will post 2.42 earnings per share for the current year.

United Fire Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, August 29th. United Fire Group's payout ratio is presently 18.23%.

Analyst Ratings Changes

Several research analysts recently issued reports on UFCS shares. Zacks Research raised United Fire Group to a "strong-buy" rating in a research report on Friday, August 8th. Jones Trading raised their target price on United Fire Group from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, United Fire Group presently has an average rating of "Buy" and a consensus price target of $30.50.

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; 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.