Jane Street Group LLC Has $1.54 Million Stock Position in United Fire Group, Inc. (NASDAQ:UFCS)

Jane Street Group LLC trimmed its position in United Fire Group, Inc. (NASDAQ:UFCS) by 3.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 73,716 shares of the insurance provider’s stock after selling 2,540 shares during the period. Jane Street Group LLC owned about 0.29% of United Fire Group worth $1,543,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of United Fire Group during the 2nd quarter worth about $65,000. Point72 Asset Management L.P. boosted its position in shares of 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 during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of United Fire Group by 82.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock worth $144,000 after acquiring an additional 3,098 shares in the last quarter. XTX Topco Ltd acquired a new stake in United Fire Group in the 2nd quarter valued at $213,000. Finally, Commonwealth Equity Services LLC bought a new stake in United Fire Group during the second quarter worth about $223,000. Institutional investors own 62.68% of the company’s stock.

Insiders Place Their Bets

In related news, VP Corey Lynn Ruehle sold 2,664 shares of United Fire Group stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total value of $78,854.40. Following the completion of the transaction, the vice president now directly owns 12,523 shares in the company, valued at approximately $370,680.80. The trade was a 17.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

United Fire Group Stock Performance

Shares of UFCS opened at $29.04 on Friday. The stock has a market capitalization of $735.93 million, a price-to-earnings ratio of 14.97 and a beta of 0.53. United Fire Group, Inc. has a 52 week low of $18.04 and a 52 week high of $31.70. The stock has a fifty day moving average of $26.40 and a 200-day moving average of $22.67.

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

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, November 29th. United Fire Group’s payout ratio is currently 32.99%.

United Fire Group 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.