Russell Investments Group Ltd. reduced its position in United Fire Group, Inc. (NASDAQ:UFCS – Get Rating) by 20.7% in the 1st quarter, Holdings Channel reports. The firm owned 8,490 shares of the insurance provider’s stock after selling 2,214 shares during the quarter. Russell Investments Group Ltd.’s holdings in United Fire Group were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in United Fire Group by 9.8% in the first quarter. Envestnet Asset Management Inc. now owns 71,722 shares of the insurance provider’s stock worth $2,228,000 after purchasing an additional 6,388 shares during the period. Point72 Asset Management L.P. acquired a new position in United Fire Group during the fourth quarter worth $306,000. Advisor Partners LLC raised its stake in United Fire Group by 18.6% during the first quarter. Advisor Partners LLC now owns 10,289 shares of the insurance provider’s stock worth $320,000 after acquiring an additional 1,611 shares in the last quarter. Maryland State Retirement & Pension System acquired a new position in United Fire Group during the first quarter worth $269,000. Finally, Advisor Group Holdings Inc. raised its stake in United Fire Group by 9.2% during the first quarter. Advisor Group Holdings Inc. now owns 7,240 shares of the insurance provider’s stock worth $225,000 after acquiring an additional 608 shares in the last quarter. 60.65% of the stock is owned by institutional investors.
United Fire Group Stock Performance
Shares of NASDAQ:UFCS opened at $28.92 on Wednesday. United Fire Group, Inc. has a twelve month low of $19.85 and a twelve month high of $37.26. The firm has a market cap of $726.67 million, a PE ratio of 11.12 and a beta of 0.01. The business has a fifty day moving average of $32.24 and a 200-day moving average of $30.47.
United Fire Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a $0.16 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.21%. United Fire Group’s dividend payout ratio (DPR) is presently 24.62%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Piper Sandler upgraded United Fire Group from a “neutral” rating to an “overweight” rating and set a $37.00 price objective for the company in a research note on Friday, August 5th. They noted that the move was a valuation call. StockNews.com lowered United Fire Group from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Finally, TheStreet lowered United Fire Group from a “b-” rating to a “c” rating in a research note on Thursday, May 5th.
In other United Fire Group news, VP Micah G. Woolstenhulme bought 1,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was bought at an average cost of $29.10 per share, for a total transaction of $29,100.00. Following the completion of the purchase, the vice president now owns 25,753 shares in the company, valued at approximately $749,412.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.71% of the stock is currently owned by corporate insiders.
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 commercial multiple peril and inland marine insurance, as well as assumed reinsurance products.
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