United Fire Group, Inc. (NASDAQ:UFCS) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC raised its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,777 shares of the insurance provider’s stock after acquiring an additional 9,945 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.27% of United Fire Group worth $1,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of UFCS. Mitchell Sinkler & Starr PA acquired a new stake in United Fire Group during the 1st quarter valued at approximately $283,000. BNP Paribas Financial Markets lifted its stake in shares of United Fire Group by 66.0% in the 1st quarter. BNP Paribas Financial Markets now owns 18,986 shares of the insurance provider’s stock valued at $413,000 after purchasing an additional 7,549 shares during the period. Empowered Funds LLC lifted its stake in shares of United Fire Group by 8.2% in the 1st quarter. Empowered Funds LLC now owns 62,592 shares of the insurance provider’s stock valued at $1,363,000 after purchasing an additional 4,725 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of United Fire Group in the 1st quarter valued at $257,000. Finally, UniSuper Management Pty Ltd acquired a new position in shares of United Fire Group in the 1st quarter valued at $265,000. 62.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on UFCS shares. Piper Sandler decreased their target price on shares of United Fire Group from $21.00 to $19.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. StockNews.com cut shares of United Fire Group from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.

United Fire Group Stock Performance

Shares of NASDAQ UFCS opened at $20.75 on Wednesday. The firm has a market cap of $525.81 million, a PE ratio of -30.07 and a beta of 0.36. The firm has a fifty day moving average of $20.52 and a 200 day moving average of $21.43. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $25.55.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, August 6th. The insurance provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $301.17 million during the quarter, compared to analysts’ expectations of $300.80 million. United Fire Group had a return on equity of 5.23% and a net margin of 3.17%. During the same period in the previous year, the firm posted ($2.27) EPS. On average, equities analysts predict that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, August 30th. United Fire Group’s payout ratio is -92.75%.

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.