Texas Permanent School Fund lessened its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 8.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,295 shares of the insurance provider’s stock after selling 1,236 shares during the period. Texas Permanent School Fund owned 0.06% of United Fire Group worth $652,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its stake in United Fire Group by 6.0% during the 2nd quarter. Alliancebernstein L.P. now owns 31,918 shares of the insurance provider’s stock valued at $1,406,000 after purchasing an additional 1,800 shares in the last quarter. Teachers Advisors LLC increased its stake in United Fire Group by 6.6% during the 2nd quarter. Teachers Advisors LLC now owns 38,891 shares of the insurance provider’s stock valued at $1,714,000 after purchasing an additional 2,406 shares in the last quarter. Nationwide Fund Advisors grew its stake in shares of United Fire Group by 3.0% in the 2nd quarter. Nationwide Fund Advisors now owns 22,156 shares of the insurance provider’s stock worth $976,000 after acquiring an additional 653 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of United Fire Group in the 2nd quarter worth $231,000. Finally, Voya Investment Management LLC grew its stake in shares of United Fire Group by 7.4% in the 2nd quarter. Voya Investment Management LLC now owns 12,293 shares of the insurance provider’s stock worth $542,000 after acquiring an additional 848 shares in the last quarter. Institutional investors own 61.94% of the company’s stock.
Shares of United Fire Group, Inc. (NASDAQ UFCS) opened at $47.97 on Wednesday. United Fire Group, Inc. has a one year low of $38.95 and a one year high of $49.74. The firm has a market cap of $1,189.56, a P/E ratio of 24.23 and a beta of 0.55.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, March 6th. United Fire Group’s payout ratio is 56.57%.
In other news, VP Barrie W. Ernst sold 7,114 shares of United Fire Group stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $47.43, for a total value of $337,417.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David E. Conner sold 4,485 shares of United Fire Group stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $45.11, for a total value of $202,318.35. Following the completion of the sale, the vice president now owns 14,382 shares of the company’s stock, valued at $648,772.02. The disclosure for this sale can be found here. Company insiders own 5.83% of the company’s stock.
Several equities analysts recently weighed in on UFCS shares. Sidoti upgraded shares of United Fire Group from a “neutral” rating to a “buy” rating in a research report on Thursday, February 15th. ValuEngine downgraded shares of United Fire Group from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, BidaskClub downgraded shares of United Fire Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $46.33.
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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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