United Fire Group, Inc. (NASDAQ:UFCS) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 23.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,083 shares of the insurance provider's stock after selling 22,400 shares during the quarter. Renaissance Technologies LLC owned about 0.29% of United Fire Group worth $2,108,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of UFCS. Barclays PLC raised its holdings in shares of United Fire Group by 147.8% in the 3rd quarter. Barclays PLC now owns 44,380 shares of the insurance provider's stock valued at $928,000 after purchasing an additional 26,469 shares during the period. Geode Capital Management LLC raised its position in United Fire Group by 0.6% in the third quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider's stock valued at $10,514,000 after purchasing an additional 2,925 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of United Fire Group in the third quarter worth $575,000. JPMorgan Chase & Co. lifted its holdings in United Fire Group by 27.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,623 shares of the insurance provider's stock worth $2,085,000 after buying an additional 21,352 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of United Fire Group by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 37,296 shares of the insurance provider's stock valued at $1,061,000 after purchasing an additional 945 shares in the last quarter. 62.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on UFCS shares. Jones Trading upgraded United Fire Group to a "strong-buy" rating and set a $32.00 target price on the stock in a report on Wednesday, March 5th. StockNews.com raised United Fire Group from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, February 12th. Finally, Piper Sandler raised their target price on shares of United Fire Group from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th.

Insiders Place Their Bets

In other news, Director James Noyce bought 2,000 shares of United Fire Group stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $26.97 per share, with a total value of $53,940.00. Following the acquisition, the director now owns 27,316 shares of the company's stock, valued at approximately $736,712.52. This trade represents a 7.90 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Dee Ann Mcintyre sold 2,500 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $27.31, for a total transaction of $68,275.00. Following the completion of the sale, the insider now owns 446,863 shares of the company's stock, valued at approximately $12,203,828.53. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.12% of the company's stock.

United Fire Group Price Performance

Shares of United Fire Group stock traded down $0.02 during trading on Thursday, reaching $27.65. 10,443 shares of the stock traded hands, compared to its average volume of 126,194. The company has a market capitalization of $702.12 million, a price-to-earnings ratio of 11.62 and a beta of 0.33. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70. The business has a fifty day simple moving average of $27.83 and a two-hundred day simple moving average of $26.75.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. On average, research analysts predict that United Fire Group, Inc. will post 2.42 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.16 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 2.31%. United Fire Group's dividend payout ratio (DPR) is presently 26.89%.

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.