Trexquant Investment LP Acquires 23,669 Shares of United Fire Group, Inc $UFCS

Key Points

• Trexquant Investment LP increased its stake in United Fire Group by 45.4%, acquiring an additional 23,669 shares to bring its total to 75,781 shares valued at approximately $2.23 million.
• United Fire Group reported a quarterly earnings per share of $0.90, surpassing analysts' expectations of $0.57, although its revenue of $314.80 million fell short of the projected $337.99 million.
• The company has announced a quarterly dividend of $0.16 per share, resulting in a dividend yield of 2.0% and a payout ratio of 18.23%.

Trexquant Investment LP increased its position in shares of United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 45.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,781 shares of the insurance provider's stock after acquiring an additional 23,669 shares during the quarter. Trexquant Investment LP owned 0.30% of United Fire Group worth $2,233,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in UFCS. Federated Hermes Inc. raised its holdings in shares of United Fire Group by 131.3% during the first quarter. Federated Hermes Inc. now owns 1,115 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 633 shares during the period. GAMMA Investing LLC raised its holdings in shares of United Fire Group by 270.2% during the first quarter. GAMMA Investing LLC now owns 1,329 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 970 shares during the period. Farther Finance Advisors LLC increased its stake in United Fire Group by 1,241.8% in the 1st quarter. Farther Finance Advisors LLC now owns 4,428 shares of the insurance provider's stock valued at $131,000 after buying an additional 4,098 shares during the period. CWM LLC increased its stake in United Fire Group by 192.8% in the 1st quarter. CWM LLC now owns 5,236 shares of the insurance provider's stock valued at $154,000 after buying an additional 3,448 shares during the period. Finally, State of Wyoming acquired a new position in United Fire Group in the 4th quarter valued at approximately $177,000. Institutional investors and hedge funds own 62.68% of the company's stock.

United Fire Group Stock Down 2.0%

UFCS stock traded down $0.63 during trading hours on Friday, hitting $31.16. The company's stock had a trading volume of 98,763 shares, compared to its average volume of 119,026. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $794.27 million, a PE ratio of 8.88 and a beta of 0.57. United Fire Group, Inc has a 12 month low of $19.19 and a 12 month high of $32.13. The stock has a 50 day moving average price of $28.87 and a two-hundred day moving average price of $28.30.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.57 by $0.33. The company had revenue of $314.80 million during the quarter, compared to the consensus estimate of $337.99 million. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, August 29th. United Fire Group's dividend payout ratio is 18.23%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UFCS. 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. Zacks Research upgraded shares of United Fire Group to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Jones Trading upped their price objective on shares of United Fire Group from $32.00 to $33.00 and gave the company 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $30.50.

United Fire Group Company 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.