Trexquant Investment LP Takes Position in United Fire Group, Inc. (NASDAQ:UFCS)

Trexquant Investment LP purchased a new stake in United Fire Group, Inc. (NASDAQ:UFCS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in UFCS. Centiva Capital LP grew its position in United Fire Group by 21.5% during the third quarter. Centiva Capital LP now owns 12,860 shares of the insurance provider’s stock worth $269,000 after buying an additional 2,278 shares in the last quarter. HighTower Advisors LLC acquired a new stake in United Fire Group during the third quarter worth about $256,000. Point72 Asset Management L.P. grew its position in United Fire Group by 576.4% during the third quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock worth $113,000 after buying an additional 4,611 shares in the last quarter. State Street Corp grew its position in United Fire Group by 2.2% during the third quarter. State Street Corp now owns 821,566 shares of the insurance provider’s stock worth $17,195,000 after buying an additional 17,415 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in United Fire Group during the third quarter worth about $211,000. 62.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other United Fire Group news, Director James Noyce bought 2,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were purchased at an average price of $26.97 per share, for a total transaction of $53,940.00. Following the transaction, the director now directly owns 27,316 shares in the company, valued at approximately $736,712.52. This trade represents a 7.90 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $70,825.00. Following the sale, the director now owns 441,863 shares in the company, valued at $12,517,978.79. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.99% of the company’s stock.

United Fire Group Stock Performance

UFCS opened at $26.63 on Thursday. The company has a fifty day moving average price of $27.38 and a two-hundred day moving average price of $26.05. United Fire Group, Inc. has a 52 week low of $18.04 and a 52 week high of $31.70. The firm has a market capitalization of $675.90 million, a PE ratio of 11.19 and a beta of 0.33.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, topping 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%. Equities analysts forecast 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 was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.16 per share. The ex-dividend date was Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 2.40%. United Fire Group’s dividend payout ratio (DPR) is presently 26.89%.

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.