United Fire Group, Inc. (NASDAQ:UFCS) insider Michael T. Wilkins sold 3,771 shares of United Fire Group stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $47.24, for a total transaction of $178,142.04. Following the transaction, the insider now directly owns 37,704 shares of the company’s stock, valued at $1,781,136.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of United Fire Group, Inc. (NASDAQ:UFCS) opened at $46.64 on Monday. The firm has a market cap of $1,160.29, a PE ratio of 103.64 and a beta of 0.70. United Fire Group, Inc. has a 1 year low of $38.97 and a 1 year high of $50.75.
United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Wednesday, November 8th. The insurance provider reported ($0.73) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.87). The company had revenue of $269.55 million during the quarter. United Fire Group had a net margin of 1.49% and a return on equity of 1.32%.
United Fire Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 8th that allows the company to buyback 2,240,000 shares. This buyback authorization allows the insurance provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, November 30th. United Fire Group’s dividend payout ratio is 177.78%.
Large investors have recently modified their holdings of the company. Flinton Capital Management LLC grew its position in shares of United Fire Group by 80.0% during the 2nd quarter. Flinton Capital Management LLC now owns 2,268 shares of the insurance provider’s stock worth $100,000 after buying an additional 1,008 shares during the period. SG Americas Securities LLC acquired a new stake in shares of United Fire Group during the 3rd quarter worth approximately $163,000. Victory Capital Management Inc. grew its position in shares of United Fire Group by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,170 shares of the insurance provider’s stock worth $184,000 after buying an additional 626 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of United Fire Group during the 2nd quarter worth approximately $204,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of United Fire Group during the 2nd quarter worth approximately $231,000. Institutional investors own 58.37% of the company’s stock.
Separately, Sandler O’Neill upgraded shares of United Fire Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $47.00 in a research report on Friday, September 22nd.
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About United Fire Group
United Fire Group, Inc, formerly United Fire & Casualty Company, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. The Company operates in two segments: property and casualty insurance, and life insurance. The Company’s property and casualty insurance segment consists of commercial lines insurance, including surety bonds, personal lines insurance and assumed insurance.
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