Jacobs Levy Equity Management Inc. Sells 907 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Jacobs Levy Equity Management Inc. cut its holdings in United Fire Group, Inc. (NASDAQ:UFCS) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,185 shares of the insurance provider’s stock after selling 907 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.58% of United Fire Group worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC bought a new position in shares of United Fire Group during the 3rd quarter worth approximately $2,740,000. HighTower Advisors LLC bought a new stake in United Fire Group in the third quarter valued at $256,000. Centiva Capital LP boosted its position in shares of United Fire Group by 21.5% during the 3rd quarter. Centiva Capital LP now owns 12,860 shares of the insurance provider’s stock worth $269,000 after purchasing an additional 2,278 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of United Fire Group by 82.3% in the 3rd 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. Finally, Martingale Asset Management L P raised its stake in United Fire Group by 2.2% during the 3rd quarter. Martingale Asset Management L P now owns 44,090 shares of the insurance provider’s stock worth $923,000 after buying an additional 947 shares during the period. 62.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler upgraded United Fire Group from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $19.00 to $26.00 in a report on Monday, November 18th. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, October 4th.

United Fire Group Price Performance

UFCS opened at $31.55 on Friday. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $31.67. The firm has a market capitalization of $799.54 million, a PE ratio of 16.26 and a beta of 0.53. The company’s 50-day moving average is $23.76 and its 200 day moving average is $21.96.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.21 by $0.60. The firm had revenue of $322.96 million during the quarter, compared to the consensus estimate of $306.80 million. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. During the same period in the prior year, the business posted $0.31 earnings per share. As a group, analysts expect that United Fire Group, Inc. will post 1.84 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, November 29th. United Fire Group’s dividend payout ratio is 32.99%.

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.