Great West Life Assurance Co. Can trimmed its position in United Fire Group, Inc. (NASDAQ:UFCS) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,429 shares of the insurance provider’s stock after selling 2,500 shares during the period. Great West Life Assurance Co. Can owned about 0.11% of United Fire Group worth $1,324,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flinton Capital Management LLC raised its stake in 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 valued at $100,000 after purchasing an additional 1,008 shares during the period. SG Americas Securities LLC bought a new stake in United Fire Group during the 3rd quarter valued at approximately $163,000. Victory Capital Management Inc. raised its stake in 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 valued at $184,000 after purchasing an additional 626 shares during the period. Piedmont Investment Advisors LLC bought a new stake in United Fire Group during the 2nd quarter valued at approximately $204,000. Finally, UBS Asset Management Americas Inc. bought a new stake in United Fire Group in the 2nd quarter worth approximately $231,000. 58.35% of the stock is currently owned by hedge funds and other institutional investors.
In other United Fire Group news, insider Michael T. Wilkins sold 3,771 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $47.24, for a total transaction of $178,142.04. Following the sale, the insider now owns 37,704 shares in the company, valued at approximately $1,781,136.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael J. Sheeley sold 3,850 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $48.04, for a total value of $184,954.00. Following the sale, the chief operating officer now owns 9,529 shares in the company, valued at approximately $457,773.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,481 shares of company stock valued at $548,710. Corporate insiders own 5.83% of the company’s stock.
Shares of United Fire Group, Inc. (UFCS) traded up $0.97 during trading on Friday, hitting $44.67. The stock had a trading volume of 47,116 shares, compared to its average volume of 57,843. United Fire Group, Inc. has a 12-month low of $38.97 and a 12-month high of $49.74. The stock has a market cap of $1,087.15, a PE ratio of 97.11 and a beta of 0.71.
United Fire Group (NASDAQ:UFCS) last issued its earnings results on Wednesday, November 8th. The insurance provider reported ($0.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.87). The firm had revenue of $269.55 million for 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 share repurchase program on Wednesday, November 8th that authorizes the company to repurchase 2,240,000 outstanding shares. This repurchase authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Thursday, November 30th. United Fire Group’s payout ratio is 177.78%.
UFCS has been the topic of a number of research reports. Sandler O’Neill raised United Fire Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $47.00 in a research note on Friday, September 22nd. BidaskClub downgraded United Fire Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th.
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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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