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

Squarepoint Ops LLC acquired a new stake in United Fire Group, Inc. (NASDAQ:UFCS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,441 shares of the insurance provider's stock, valued at approximately $354,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. NewEdge Advisors LLC bought a new stake in shares of United Fire Group in the fourth quarter valued at approximately $60,000. Aquatic Capital Management LLC raised its holdings in United Fire Group by 716.3% in the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock valued at $70,000 after acquiring an additional 2,149 shares in the last quarter. Globeflex Capital L P bought a new stake in shares of United Fire Group during the 4th quarter valued at $119,000. KLP Kapitalforvaltning AS acquired a new stake in shares of United Fire Group during the 4th quarter worth $131,000. Finally, State of Wyoming bought a new position in shares of United Fire Group in the fourth quarter worth $177,000. Institutional investors and hedge funds own 62.68% of the company's stock.

United Fire Group Price Performance

Shares of UFCS stock traded down $0.05 on Monday, hitting $28.34. 108,577 shares of the company's stock were exchanged, compared to its average volume of 127,395. The company has a 50 day moving average of $27.71 and a 200 day moving average of $27.88. The stock has a market cap of $721.28 million, a P/E ratio of 11.91 and a beta of 0.51. United Fire Group, Inc. has a 12 month low of $18.04 and a 12 month high of $31.70.

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 for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The company had revenue of $308.41 million for the quarter, compared to the consensus estimate of $336.18 million. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. Sell-side analysts predict that United Fire Group, Inc. will post 2.42 EPS for the current fiscal 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 paid a dividend of $0.16 per share. The ex-dividend date is Friday, June 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.26%. United Fire Group's payout ratio is presently 25.30%.

Analysts Set New Price Targets

UFCS has been the subject of several recent analyst reports. Jones Trading reaffirmed a "buy" rating and set a $32.00 price objective on shares of United Fire Group in a research report on Monday, May 12th. 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 research report on Thursday, February 13th. Finally, Wall Street Zen raised shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 15th.

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.