Two Sigma Advisers LP Sells 15,200 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Two Sigma Advisers LP reduced its position in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,230 shares of the insurance provider's stock after selling 15,200 shares during the period. Two Sigma Advisers LP owned approximately 0.48% of United Fire Group worth $3,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in United Fire Group during the 4th quarter worth approximately $27,000. NewEdge Advisors LLC acquired a new stake in United Fire Group during the 4th quarter worth approximately $60,000. Aquatic Capital Management LLC lifted its holdings in United Fire Group by 716.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock worth $70,000 after purchasing an additional 2,149 shares during the last quarter. Globeflex Capital L P acquired a new stake in United Fire Group during the 4th quarter worth approximately $119,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in United Fire Group during the 4th quarter worth approximately $131,000. 62.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on UFCS shares. Jones Trading reaffirmed a "buy" rating and issued a $32.00 price objective on shares of United Fire Group in a report on Monday, May 12th. Wall Street Zen raised United Fire Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 15th. Finally, Piper Sandler lifted their price objective on United Fire Group from $26.00 to $28.00 and gave the company a "neutral" rating in a report on Thursday, February 13th.

Insider Activity

In other news, major shareholder Dee Ann Mcintyre sold 2,500 shares of United Fire Group stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $27.31, for a total value of $68,275.00. Following the transaction, the insider now owns 446,863 shares in the company, valued at approximately $12,203,828.53. This trade represents a 0.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.12% of the company's stock.

United Fire Group Trading Up 1.8%

NASDAQ UFCS traded up $0.52 during midday trading on Thursday, hitting $28.71. The company had a trading volume of 87,891 shares, compared to its average volume of 126,824. The company has a market capitalization of $730.70 million, a PE ratio of 12.06 and a beta of 0.49. The firm has a 50-day moving average price of $27.86 and a 200-day moving average price of $27.77. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $31.70.

United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The insurance provider reported $0.70 earnings per share (EPS) 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. On average, equities analysts anticipate that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The firm also recently declared 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 is Friday, June 6th. This represents a $0.64 annualized dividend and a dividend yield of 2.23%. United Fire Group's payout ratio is 25.30%.

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.