Point72 Asia Singapore Pte. Ltd. Acquires 3,098 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 82.3% during the third quarter, Holdings Channel.com reports. The firm owned 6,864 shares of the insurance provider’s stock after acquiring an additional 3,098 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in United Fire Group were worth $144,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of UFCS. Innealta Capital LLC purchased a new stake in shares of United Fire Group during the 2nd quarter valued at about $65,000. Janus Henderson Group PLC purchased a new stake in United Fire Group during the first quarter valued at approximately $202,000. Lion Street Advisors LLC purchased a new stake in United Fire Group during the second quarter valued at approximately $201,000. XTX Topco Ltd bought a new stake in shares of United Fire Group in the 2nd quarter valued at approximately $213,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of United Fire Group in the 2nd quarter worth approximately $223,000. Institutional investors own 62.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler upgraded United Fire Group from an “underweight” rating to a “neutral” rating and increased 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 note on Friday, October 4th.

United Fire Group Price Performance

Shares of NASDAQ UFCS opened at $31.54 on Friday. The company has a market cap of $799.22 million, a P/E ratio of 16.26 and a beta of 0.53. The firm has a 50-day simple moving average of $23.54 and a two-hundred day simple moving average of $21.90. United Fire Group, Inc. has a 1 year low of $18.04 and a 1 year high of $31.67.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share (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 return on equity of 6.75% and a net margin of 4.15%. During the same period last year, the company earned $0.31 EPS. As a group, equities research analysts expect that United Fire Group, Inc. will post 1.84 EPS for the current year.

United Fire Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, November 29th. United Fire Group’s dividend 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.