Squarepoint Ops LLC Invests $354,000 in United Fire Group, Inc. (NASDAQ:UFCS)

Squarepoint Ops LLC acquired a new position in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,441 shares of the insurance provider's stock, valued at approximately $354,000.

A number of other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of United Fire Group by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider's stock worth $39,981,000 after purchasing an additional 55,616 shares during the period. Vanguard Group Inc. increased its stake in United Fire Group by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,350,237 shares of the insurance provider's stock valued at $38,414,000 after acquiring an additional 16,588 shares during the period. Systematic Financial Management LP increased its stake in United Fire Group by 13.7% during the fourth quarter. Systematic Financial Management LP now owns 552,194 shares of the insurance provider's stock valued at $15,710,000 after acquiring an additional 66,561 shares during the period. Northern Trust Corp increased its stake in United Fire Group by 1.2% during the fourth quarter. Northern Trust Corp now owns 220,022 shares of the insurance provider's stock valued at $6,260,000 after acquiring an additional 2,648 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in United Fire Group by 78.6% during the fourth quarter. JPMorgan Chase & Co. now owns 177,877 shares of the insurance provider's stock valued at $5,061,000 after acquiring an additional 78,254 shares during the period. 62.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler boosted their price target on United Fire Group from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Wall Street Zen upgraded United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, Jones Trading restated a "buy" rating and set a $32.00 price target on shares of United Fire Group in a research note on Monday, May 12th.

United Fire Group Trading Up 0.2%

UFCS stock opened at $28.14 on Friday. United Fire Group, Inc. has a 1-year low of $18.04 and a 1-year high of $31.70. The firm has a market cap of $716.19 million, a P/E ratio of 11.82 and a beta of 0.51. The business's 50 day moving average is $27.74 and its 200-day moving average is $27.88.

United Fire Group (NASDAQ:UFCS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. The company had revenue of $308.41 million for the quarter, compared to analyst estimates of $336.18 million. Sell-side analysts forecast that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.64 annualized dividend and a dividend yield of 2.27%. United Fire Group's dividend payout ratio is currently 25.30%.

United Fire Group Profile

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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