California Public Employees Retirement System raised its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 6.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 65,359 shares of the insurance provider’s stock after buying an additional 4,085 shares during the quarter. California Public Employees Retirement System’s holdings in United Fire Group were worth $3,128,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of UFCS. Elkfork Partners LLC purchased a new position in United Fire Group during the 4th quarter valued at about $109,000. SG Americas Securities LLC purchased a new position in shares of United Fire Group during the first quarter worth about $176,000. Xact Kapitalforvaltning AB purchased a new position in shares of United Fire Group during the fourth quarter worth about $220,000. Canandaigua National Bank & Trust Co. purchased a new position in shares of United Fire Group during the first quarter worth about $282,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of United Fire Group during the fourth quarter worth about $334,000. 60.02% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on the company. BidaskClub lowered United Fire Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 15th. ValuEngine lowered United Fire Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. Finally, Sandler O’Neill lowered United Fire Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th.
In related news, Director Mary K. Quass sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $50.95, for a total value of $152,850.00. Following the completion of the sale, the director now owns 18,632 shares in the company, valued at approximately $949,300.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dawn M. Jaffray sold 10,386 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $55.30, for a total value of $574,345.80. Following the completion of the sale, the chief financial officer now owns 16,155 shares of the company’s stock, valued at approximately $893,371.50. The disclosure for this sale can be found here. 6.24% of the stock is currently owned by insiders.
Shares of NASDAQ UFCS opened at $55.61 on Wednesday. United Fire Group, Inc. has a 12 month low of $38.95 and a 12 month high of $58.46. The stock has a market cap of $1.36 billion, a PE ratio of 45.05 and a beta of 0.45.
United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Wednesday, May 9th. The insurance provider reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.17. United Fire Group had a return on equity of 3.25% and a net margin of 7.11%. The company had revenue of $258.66 million during the quarter. During the same period in the previous year, the firm posted $0.67 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were issued a dividend of $0.31 per share. This is a positive change from United Fire Group’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $1.24 annualized dividend and a dividend yield of 2.23%.
United Fire Group Profile
United Fire Group, Inc, together with its subsidiaries, provides insurance protection for individuals and businesses in the United States. The company operates through two segments, Property and Casualty Insurance, and Life Insurance. The Property and Casualty Insurance segment offers commercial and personal lines of property and casualty insurance, as well as assumed reinsurance products.
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