10,103 Shares in United Fire Group, Inc. (NASDAQ:UFCS) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in United Fire Group, Inc. (NASDAQ:UFCS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,103 shares of the insurance provider’s stock, valued at approximately $211,000.

A number of other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of United Fire Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 193,283 shares of the insurance provider’s stock worth $4,154,000 after buying an additional 1,023 shares in the last quarter. Innealta Capital LLC purchased a new position in United Fire Group in the second quarter worth $65,000. Commonwealth Equity Services LLC acquired a new stake in United Fire Group in the second quarter valued at $223,000. Los Angeles Capital Management LLC purchased a new stake in shares of United Fire Group during the 2nd quarter worth $861,000. Finally, American Century Companies Inc. grew its stake in shares of United Fire Group by 6.6% during the 2nd quarter. American Century Companies Inc. now owns 33,616 shares of the insurance provider’s stock worth $722,000 after purchasing an additional 2,085 shares during the period. Hedge funds and other institutional investors own 62.68% of the company’s stock.

Insider Buying and Selling

In related news, VP Corey Lynn Ruehle sold 2,664 shares of United Fire Group stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $29.60, for a total transaction of $78,854.40. Following the completion of the sale, the vice president now owns 12,523 shares in the company, valued at approximately $370,680.80. This trade represents a 17.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.99% of the company’s stock.

Analysts Set New Price Targets

UFCS has been the subject of several recent analyst reports. Piper Sandler upgraded shares of United Fire Group from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $19.00 to $26.00 in a research note on Monday, November 18th. StockNews.com raised United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, October 4th.

United Fire Group Stock Performance

United Fire Group stock opened at $29.49 on Friday. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $31.70. The firm has a market capitalization of $747.34 million, a price-to-earnings ratio of 15.20 and a beta of 0.53. The stock’s fifty day moving average is $25.68 and its two-hundred day moving average is $22.46.

United Fire Group (NASDAQ:UFCS) last released 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. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. The business 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 EPS. As a group, sell-side analysts forecast that United Fire Group, Inc. will post 1.84 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.17%. United Fire Group’s dividend payout ratio (DPR) is 32.99%.

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.