UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 3,312 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,482 shares of the insurance provider’s stock after selling 3,312 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.14% of United Fire Group worth $722,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in United Fire Group during the second quarter worth about $65,000. XTX Topco Ltd acquired a new stake in shares of United Fire Group during the 2nd quarter worth approximately $213,000. Commonwealth Equity Services LLC bought a new position in United Fire Group in the second quarter valued at approximately $223,000. SG Americas Securities LLC raised its position in United Fire Group by 93.0% during the third quarter. SG Americas Securities LLC now owns 13,758 shares of the insurance provider’s stock valued at $288,000 after purchasing an additional 6,631 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in United Fire Group by 10.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 17,108 shares of the insurance provider’s stock worth $368,000 after purchasing an additional 1,625 shares during the last quarter. Institutional investors own 62.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on UFCS shares. Piper Sandler upgraded United Fire Group from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $19.00 to $26.00 in a research note on Monday, November 18th. StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th.

United Fire Group Price Performance

Shares of NASDAQ:UFCS opened at $29.49 on Friday. United Fire Group, Inc. has a one year low of $18.04 and a one year high of $31.70. The company has a market cap of $747.34 million, a price-to-earnings ratio of 15.20 and a beta of 0.53. The firm has a 50 day simple moving average of $25.48 and a 200 day simple moving average of $22.41.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.60. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. The company had revenue of $322.96 million during the quarter, compared to analysts’ expectations of $306.80 million. During the same period in the prior year, the company earned $0.31 EPS. As a group, analysts expect that United Fire Group, Inc. will post 1.84 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Friday, November 29th. United Fire Group’s payout ratio is 32.99%.

Insider Transactions at United Fire Group

In related news, VP Corey Lynn Ruehle sold 2,664 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total value of $78,854.40. Following the sale, the vice president now owns 12,523 shares of the company’s stock, valued at $370,680.80. The trade was a 17.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.99% of the company’s stock.

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 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.