Trexquant Investment LP Has $2.23 Million Stock Position in 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 lifted its position in United Fire Group, Inc (NASDAQ:UFCS - Free Report) by 45.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,781 shares of the insurance provider's stock after acquiring an additional 23,669 shares during the quarter. Trexquant Investment LP owned approximately 0.30% of United Fire Group worth $2,233,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in UFCS. Price T Rowe Associates Inc. MD lifted its position in shares of United Fire Group by 7.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 50,046 shares of the insurance provider's stock valued at $1,424,000 after acquiring an additional 3,660 shares in the last quarter. Voya Investment Management LLC purchased a new stake in shares of United Fire Group in the 4th quarter valued at approximately $372,000. The Manufacturers Life Insurance Company purchased a new stake in shares of United Fire Group in the 4th quarter valued at approximately $223,000. Northern Trust Corp lifted its position in shares of United Fire Group by 1.2% in the 4th 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 in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of United Fire Group in the 4th quarter valued at approximately $217,000. Hedge funds and other institutional investors own 62.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Jones Trading upped their price target on shares of United Fire Group from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Zacks Research upgraded shares of United Fire Group to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of United Fire Group from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, United Fire Group currently has a consensus rating of "Buy" and an average price target of $30.50.

United Fire Group Stock Up 0.8%

UFCS stock traded up $0.24 during midday trading on Wednesday, reaching $31.06. The company had a trading volume of 103,845 shares, compared to its average volume of 113,076. United Fire Group, Inc has a 1 year low of $19.19 and a 1 year high of $32.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $791.72 million, a P/E ratio of 8.85 and a beta of 0.57. The company has a 50 day moving average of $29.03 and a two-hundred day moving average of $28.37.

United Fire Group (NASDAQ:UFCS - Get Free Report) last announced its quarterly 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. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. The company had revenue of $314.80 million for the quarter, compared to analyst estimates of $337.99 million. On average, equities research analysts expect that United Fire Group, Inc will post 2.42 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

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

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.