Jane Street Group LLC Sells 2,540 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Jane Street Group LLC decreased its position in United Fire Group, Inc. (NASDAQ:UFCS) by 3.3% in the third quarter, Holdings Channel.com reports. The firm owned 73,716 shares of the insurance provider’s stock after selling 2,540 shares during the quarter. Jane Street Group LLC’s holdings in United Fire Group were worth $1,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in UFCS. Innealta Capital LLC purchased a new stake in shares of United Fire Group in the 2nd quarter worth about $65,000. Point72 Asset Management L.P. boosted its stake in 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 acquiring an additional 4,611 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in United Fire Group by 82.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock worth $144,000 after purchasing an additional 3,098 shares during the period. XTX Topco Ltd bought a new position in shares of United Fire Group during the second quarter valued at approximately $213,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of United Fire Group during the second quarter valued at approximately $223,000. Hedge funds and other institutional investors own 62.68% of the company’s stock.

United Fire Group Stock Performance

NASDAQ UFCS opened at $29.04 on Friday. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $31.70. The stock has a 50-day moving average of $26.40 and a 200 day moving average of $22.67. The company 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 (NASDAQ:UFCS) last announced its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.60. The firm had revenue of $322.96 million during the quarter, compared to analyst estimates of $306.80 million. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%. During the same period in the previous year, the business posted $0.31 earnings per share. On average, equities analysts predict that United Fire Group, Inc. will post 1.84 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

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

Insider Transactions at United Fire Group

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were 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 directly owns 12,523 shares of the company’s stock, valued at approximately $370,680.80. This represents a 17.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.99% of the company’s stock.

Analysts Set New Price Targets

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

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.