Two Sigma Investments LP Sells 29,419 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Two Sigma Investments LP trimmed its position in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 30.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,719 shares of the insurance provider's stock after selling 29,419 shares during the period. Two Sigma Investments LP owned approximately 0.26% of United Fire Group worth $1,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in UFCS. R Squared Ltd acquired a new position in shares of United Fire Group during the 4th quarter worth about $27,000. NewEdge Advisors LLC acquired a new position in shares of United Fire Group during the fourth quarter worth approximately $60,000. Aquatic Capital Management LLC lifted its holdings in shares of United Fire Group by 716.3% during the fourth quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider's stock worth $70,000 after buying an additional 2,149 shares during the last quarter. Globeflex Capital L P bought a new stake in shares of United Fire Group in the fourth quarter valued at approximately $119,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of United Fire Group in the fourth quarter worth $131,000. 62.68% of the stock is owned by institutional investors and hedge funds.

United Fire Group Stock Performance

Shares of NASDAQ:UFCS traded up $0.25 during trading on Friday, hitting $28.39. 66,774 shares of the stock were exchanged, compared to its average volume of 127,363. The company has a market capitalization of $722.55 million, a price-to-earnings ratio of 11.93 and a beta of 0.51. United Fire Group, Inc. has a 1-year low of $18.04 and a 1-year high of $31.70. The company's fifty day simple moving average is $27.71 and its 200-day simple moving average is $27.89.

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, topping analysts' consensus estimates of $0.62 by $0.08. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. The firm had revenue of $308.41 million for the quarter, compared to the consensus estimate of $336.18 million. On average, research analysts forecast 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, June 20th. Investors of record on Friday, June 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, June 6th. United Fire Group's dividend payout ratio (DPR) is presently 25.30%.

Analysts Set New Price Targets

Several research firms recently commented on UFCS. Jones Trading reiterated a "buy" rating and set a $32.00 target price on shares of United Fire Group in a research note on Monday, May 12th. Piper Sandler boosted their price objective on shares of United Fire Group from $26.00 to $28.00 and gave the stock a "neutral" rating in a 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 report on Thursday, May 15th.

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.