Trexquant Investment LP Buys Shares of 52,112 United Fire Group, Inc. (NASDAQ:UFCS)

Trexquant Investment LP purchased a new stake in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 52,112 shares of the insurance provider's stock, valued at approximately $1,483,000. Trexquant Investment LP owned about 0.21% of United Fire Group at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC increased its holdings in shares of United Fire Group by 147.8% during the third quarter. Barclays PLC now owns 44,380 shares of the insurance provider's stock worth $928,000 after buying an additional 26,469 shares in the last quarter. State Street Corp increased its holdings in United Fire Group by 2.2% in the 3rd quarter. State Street Corp now owns 821,566 shares of the insurance provider's stock worth $17,195,000 after purchasing an additional 17,415 shares in the last quarter. JPMorgan Chase & Co. raised its position in United Fire Group by 27.3% in the third quarter. JPMorgan Chase & Co. now owns 99,623 shares of the insurance provider's stock valued at $2,085,000 after purchasing an additional 21,352 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of United Fire Group during the third quarter valued at about $256,000. Finally, Geode Capital Management LLC grew its holdings in shares of United Fire Group by 0.6% during the third quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider's stock worth $10,514,000 after purchasing an additional 2,925 shares during the last quarter. 62.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on UFCS. Jones Trading upgraded shares of United Fire Group to a "strong-buy" rating and set a $32.00 target price on the stock in a research report on Wednesday, March 5th. 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 research note on Thursday, February 13th. Finally, StockNews.com raised United Fire Group from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 12th.

United Fire Group Stock Up 1.1 %

UFCS traded up $0.31 during trading on Tuesday, reaching $27.16. 15,435 shares of the stock traded hands, compared to its average volume of 125,061. The stock's 50-day moving average is $27.46 and its 200 day moving average is $26.21. United Fire Group, Inc. has a 12 month low of $18.04 and a 12 month high of $31.70. The stock has a market capitalization of $689.22 million, a PE ratio of 11.41 and a beta of 0.33.

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

United Fire Group Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 2.36%. United Fire Group's dividend payout ratio is 26.89%.

Insider Transactions at United Fire Group

In related news, Director James Noyce purchased 2,000 shares of the business's stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $26.97 per share, for a total transaction of $53,940.00. Following the purchase, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $28.33, for a total value of $70,825.00. Following the completion of the sale, the director now directly owns 441,863 shares of the company's stock, valued at approximately $12,517,978.79. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.99% of the stock is owned by insiders.

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.