Aquatic Capital Management LLC Buys 2,149 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Aquatic Capital Management LLC boosted its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 716.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,449 shares of the insurance provider’s stock after buying an additional 2,149 shares during the quarter. Aquatic Capital Management LLC’s holdings in United Fire Group were worth $70,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in UFCS. JPMorgan Chase & Co. increased its position in United Fire Group by 78.6% in the fourth quarter. JPMorgan Chase & Co. now owns 177,877 shares of the insurance provider’s stock worth $5,061,000 after purchasing an additional 78,254 shares during the period. American Century Companies Inc. grew its position in shares of United Fire Group by 87.6% during the 4th quarter. American Century Companies Inc. now owns 142,996 shares of the insurance provider’s stock worth $4,068,000 after buying an additional 66,756 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of United Fire Group by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,320 shares of the insurance provider’s stock worth $39,981,000 after buying an additional 55,616 shares during the last quarter. Barclays PLC lifted its holdings in United Fire Group by 122.4% in the fourth quarter. Barclays PLC now owns 98,712 shares of the insurance provider’s stock valued at $2,809,000 after buying an additional 54,332 shares during the period. Finally, Trexquant Investment LP acquired a new stake in United Fire Group during the 4th quarter worth $1,483,000. Institutional investors own 62.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on UFCS. StockNews.com upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Piper Sandler boosted their price objective on shares of United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Jones Trading raised shares of United Fire Group to a “strong-buy” rating and set a $32.00 price target on the stock in a research report on Wednesday, March 5th.

Insider Buying and Selling at United Fire Group

In related news, Director James Noyce acquired 2,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of $26.97 per share, with a total value of $53,940.00. Following the acquisition, the director now owns 27,316 shares in the company, valued at $736,712.52. This represents a 7.90 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher R. Drahozal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $28.33, for a total transaction of $70,825.00. Following the transaction, the director now owns 441,863 shares in the company, valued at approximately $12,517,978.79. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.12% of the company’s stock.

United Fire Group Stock Performance

Shares of UFCS opened at $28.31 on Tuesday. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70. The stock has a 50 day simple moving average of $27.93 and a 200 day simple moving average of $27.00. The firm has a market capitalization of $718.88 million, a PE ratio of 11.89 and a beta of 0.33.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. Equities research analysts predict that United Fire Group, Inc. will post 2.42 EPS for the current fiscal year.

United Fire Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, March 7th. United Fire Group’s dividend payout ratio is presently 26.89%.

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.