Jacobs Levy Equity Management Inc. Has $3.03 Million Stake in United Fire Group, Inc. (NASDAQ:UFCS)

Jacobs Levy Equity Management Inc. lessened its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 27.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,486 shares of the insurance provider's stock after selling 39,699 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.42% of United Fire Group worth $3,030,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Rhumbline Advisers raised its stake in shares of United Fire Group by 0.7% in the 4th quarter. Rhumbline Advisers now owns 66,148 shares of the insurance provider's stock valued at $1,882,000 after purchasing an additional 480 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of United Fire Group by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 37,296 shares of the insurance provider's stock valued at $1,061,000 after acquiring an additional 945 shares during the period. R Squared Ltd acquired a new position in United Fire Group during the 4th quarter valued at about $27,000. Deutsche Bank AG raised its stake in United Fire Group by 9.0% during the 4th quarter. Deutsche Bank AG now owns 15,821 shares of the insurance provider's stock valued at $450,000 after acquiring an additional 1,304 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of United Fire Group by 3.1% during the fourth quarter. Legal & General Group Plc now owns 55,882 shares of the insurance provider's stock valued at $1,590,000 after purchasing an additional 1,676 shares in the last quarter. Institutional investors and hedge funds own 62.68% of the company's stock.

United Fire Group Price Performance

United Fire Group stock traded down $0.38 during trading hours on Wednesday, hitting $28.05. The company had a trading volume of 8,834 shares, compared to its average volume of 127,140. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $31.70. The firm's fifty day moving average is $27.97 and its 200-day moving average is $27.58. The firm has a market capitalization of $713.77 million, a P/E ratio of 11.78 and a beta of 0.49.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its earnings results on Tuesday, May 6th. The insurance provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The firm had revenue of $308.41 million during the quarter, compared to analysts' expectations of $336.18 million. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. Analysts anticipate that United Fire Group, Inc. will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, March 7th. United Fire Group's dividend payout ratio is 25.30%.

Insider Activity

In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $28.33, for a total transaction of $70,825.00. Following the completion of the sale, the director now owns 441,863 shares of the company's stock, valued at $12,517,978.79. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

UFCS has been the topic of several recent analyst reports. Jones Trading reissued a "buy" rating and set a $32.00 target price on shares of United Fire Group in a report on Monday, May 12th. StockNews.com 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 target price 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.

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.