Royce & Associates LP Has $1.25 Million Stake in United Fire Group, Inc. (UFCS)

Royce & Associates LP cut its position in United Fire Group, Inc. (NASDAQ:UFCS) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,183 shares of the insurance provider’s stock after selling 1,234 shares during the period. Royce & Associates LP owned about 0.11% of United Fire Group worth $1,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in UFCS. Aperio Group LLC grew its stake in United Fire Group by 11.1% during the second quarter. Aperio Group LLC now owns 11,104 shares of the insurance provider’s stock valued at $489,000 after acquiring an additional 1,109 shares in the last quarter. Russell Investments Group Ltd. grew its stake in United Fire Group by 3.2% during the second quarter. Russell Investments Group Ltd. now owns 16,665 shares of the insurance provider’s stock valued at $734,000 after acquiring an additional 520 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in United Fire Group by 4.0% during the second quarter. Great West Life Assurance Co. Can now owns 30,929 shares of the insurance provider’s stock valued at $1,361,000 after acquiring an additional 1,200 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in United Fire Group by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 94,992 shares of the insurance provider’s stock valued at $4,186,000 after acquiring an additional 807 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in United Fire Group by 0.6% during the second quarter. Rhumbline Advisers now owns 44,878 shares of the insurance provider’s stock valued at $1,977,000 after acquiring an additional 273 shares in the last quarter. 58.35% of the stock is owned by hedge funds and other institutional investors.

In other United Fire Group news, insider Michael T. Wilkins sold 3,771 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $47.24, for a total transaction of $178,142.04. Following the completion of the transaction, the insider now owns 37,704 shares in the company, valued at $1,781,136.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Neal R. Scharmer sold 2,537 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $47.97, for a total transaction of $121,699.89. Following the transaction, the vice president now owns 17,473 shares of the company’s stock, valued at approximately $838,179.81. The disclosure for this sale can be found here. Insiders have sold 11,481 shares of company stock valued at $548,710 in the last quarter. 5.83% of the stock is owned by company insiders.

United Fire Group, Inc. (NASDAQ:UFCS) opened at $45.53 on Friday. United Fire Group, Inc. has a 12-month low of $38.97 and a 12-month high of $50.74. The company has a market cap of $1,130.94, a price-to-earnings ratio of 72.27 and a beta of 0.70.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Wednesday, November 8th. The insurance provider reported ($0.73) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.87). United Fire Group had a net margin of 1.49% and a return on equity of 1.32%. The business had revenue of $269.55 million for the quarter.

United Fire Group declared that its board has approved a stock buyback plan on Wednesday, November 8th that allows the company to buyback 2,240,000 shares. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.12 annualized dividend and a yield of 2.46%. United Fire Group’s dividend payout ratio (DPR) is currently 177.78%.

Several equities analysts recently weighed in on the stock. BidaskClub cut shares of United Fire Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Sandler O’Neill raised shares of United Fire Group from a “hold” rating to a “buy” rating and raised their target price for the company from $46.00 to $47.00 in a research note on Friday, September 22nd.

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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.

Institutional Ownership by Quarter for United Fire Group (NASDAQ:UFCS)

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