Integrated Quantitative Investments LLC Makes New Investment in United Fire Group, Inc. (NASDAQ:UFCS)

Integrated Quantitative Investments LLC acquired a new position in shares of United Fire Group, Inc. (NASDAQ:UFCS) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 33,295 shares of the insurance provider’s stock, valued at approximately $947,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd bought a new position in United Fire Group during the fourth quarter valued at $27,000. Point72 Asset Management L.P. grew its holdings in United Fire Group by 576.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 4,611 shares during the last quarter. Globeflex Capital L P purchased a new stake in United Fire Group in the 4th quarter worth about $119,000. KLP Kapitalforvaltning AS bought a new stake in United Fire Group in the fourth quarter worth about $131,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of United Fire Group by 82.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock valued at $144,000 after buying an additional 3,098 shares during the period. Hedge funds and other institutional investors own 62.68% of the company’s stock.

Insider Activity at United Fire Group

In related news, Director James Noyce acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $26.97 per share, with a total value of $53,940.00. Following the completion of the transaction, the director now directly owns 27,316 shares in the company, valued at $736,712.52. This trade represents a 7.90 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Dee Ann Mcintyre sold 2,500 shares of United Fire Group stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $27.31, for a total value of $68,275.00. Following the completion of the transaction, the insider now owns 446,863 shares in the company, valued at $12,203,828.53. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. 5.99% of the stock is currently owned by corporate insiders.

United Fire Group Stock Down 1.8 %

Shares of NASDAQ UFCS opened at $29.03 on Friday. United Fire Group, Inc. has a twelve month low of $18.04 and a twelve month high of $31.70. The firm has a market cap of $736.81 million, a PE ratio of 12.20 and a beta of 0.45. The business has a fifty day simple moving average of $27.26 and a two-hundred day simple moving average of $25.83.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share 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%. On average, research analysts expect that United Fire Group, Inc. will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.20%. United Fire Group’s dividend payout ratio is presently 26.89%.

Analyst Upgrades and Downgrades

UFCS has been the subject of a number of research analyst reports. Piper Sandler raised their price target on United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. StockNews.com raised 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 raised shares of United Fire Group to a “strong-buy” rating and set a $32.00 price target on the stock in a research note on Wednesday, March 5th.

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.