Jane Street Group LLC Sells 48,608 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Jane Street Group LLC decreased its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 65.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,108 shares of the insurance provider’s stock after selling 48,608 shares during the period. Jane Street Group LLC owned 0.10% of United Fire Group worth $714,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of UFCS. R Squared Ltd acquired a new position in United Fire Group during the 4th quarter worth $27,000. NewEdge Advisors LLC acquired a new position in United Fire Group during the 4th quarter worth $60,000. Aquatic Capital Management LLC lifted its position in United Fire Group by 716.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,449 shares of the insurance provider’s stock worth $70,000 after acquiring an additional 2,149 shares during the last quarter. Globeflex Capital L P acquired a new position in United Fire Group during the 4th quarter worth $119,000. Finally, KLP Kapitalforvaltning AS acquired a new position in United Fire Group during the 4th quarter worth $131,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

Insider Activity

In related news, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $28.33, for a total value of $70,825.00. Following the completion of the transaction, the director now owns 441,863 shares of the company’s stock, valued at $12,517,978.79. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.12% of the stock is owned by company insiders.

United Fire Group Stock Performance

Shares of UFCS opened at $27.80 on Monday. The company has a 50-day simple moving average of $27.90 and a 200-day simple moving average of $27.74. The firm has a market capitalization of $707.54 million, a P/E ratio of 11.68 and a beta of 0.49. United Fire Group, Inc. has a 52 week low of $18.04 and a 52 week high of $31.70.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Tuesday, May 6th. The insurance provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $308.41 million during the quarter, compared to analyst estimates of $336.18 million. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. As a group, equities analysts forecast that United Fire Group, Inc. will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, June 6th. United Fire Group’s dividend payout ratio is currently 25.30%.

Analyst Upgrades and Downgrades

UFCS has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of United Fire Group from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Jones Trading reissued a “buy” rating and set a $32.00 target price on shares of United Fire Group in a research report on Monday, May 12th. Finally, Wall Street Zen raised shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 15th.

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.