Jacobs Levy Equity Management Inc. Trims Stock Position in United Fire Group, Inc. (NASDAQ:UFCS)

Jacobs Levy Equity Management Inc. cut its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 27.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,486 shares of the insurance provider’s stock after selling 39,699 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.42% of United Fire Group worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in UFCS. Dimensional Fund Advisors LP increased its holdings in shares of United Fire Group by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider’s stock valued at $39,981,000 after purchasing an additional 55,616 shares in the last quarter. Vanguard Group Inc. increased its holdings in United Fire Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,350,237 shares of the insurance provider’s stock valued at $38,414,000 after buying an additional 16,588 shares in the last quarter. Northern Trust Corp raised its position in shares of United Fire Group by 1.2% in the fourth quarter. Northern Trust Corp now owns 220,022 shares of the insurance provider’s stock worth $6,260,000 after acquiring an additional 2,648 shares during the period. JPMorgan Chase & Co. raised its position in shares of United Fire Group by 78.6% in the fourth quarter. JPMorgan Chase & Co. now owns 177,877 shares of the insurance provider’s stock worth $5,061,000 after acquiring an additional 78,254 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of United Fire Group by 87.6% during the 4th quarter. American Century Companies Inc. now owns 142,996 shares of the insurance provider’s stock worth $4,068,000 after acquiring an additional 66,756 shares in the last quarter. 62.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at United Fire Group

In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of the business’s stock in a transaction 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 transaction, the director now owns 441,863 shares of the company’s stock, valued at approximately $12,517,978.79. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.12% of the company’s stock.

Analyst Ratings Changes

UFCS has been the subject of a number of analyst reports. Jones Trading reaffirmed a “buy” rating and issued a $32.00 price target on shares of United Fire Group in a report on Monday. StockNews.com upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Piper Sandler boosted their price target on shares of United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th.

United Fire Group Trading Up 2.1%

Shares of United Fire Group stock opened at $28.52 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 capitalization of $725.86 million, a PE ratio of 11.98 and a beta of 0.49. The firm’s 50-day moving average price is $27.94 and its 200 day moving average price is $27.34.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Tuesday, May 6th. The insurance provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. The business had revenue of $308.41 million for the quarter, compared to the consensus estimate of $336.18 million. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. On average, sell-side analysts predict that United Fire Group, Inc. will post 2.42 EPS for the current fiscal year.

United Fire Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid 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 2.24%. United Fire Group’s dividend payout ratio (DPR) is presently 25.30%.

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.