Mercer Global Advisors Inc. ADV purchased a new stake in United Fire Group, Inc. (NASDAQ:UFCS) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 15,432 shares of the insurance provider’s stock, valued at approximately $856,000. Mercer Global Advisors Inc. ADV owned approximately 0.06% of United Fire Group at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. 6 Meridian acquired a new stake in United Fire Group in the 1st quarter valued at $570,000. Geode Capital Management LLC increased its holdings in United Fire Group by 10.5% in the 4th quarter. Geode Capital Management LLC now owns 250,720 shares of the insurance provider’s stock valued at $13,902,000 after purchasing an additional 23,819 shares in the last quarter. Norges Bank acquired a new stake in United Fire Group in the 4th quarter valued at $27,833,000. Legal & General Group Plc increased its holdings in United Fire Group by 4.5% in the 4th quarter. Legal & General Group Plc now owns 50,784 shares of the insurance provider’s stock valued at $2,809,000 after purchasing an additional 2,164 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in United Fire Group in the 4th quarter valued at $139,000. Hedge funds and other institutional investors own 64.73% of the company’s stock.
Shares of United Fire Group stock opened at $42.44 on Wednesday. The stock has a market cap of $1.08 billion, a PE ratio of 64.18 and a beta of -0.02. United Fire Group, Inc. has a 1-year low of $42.65 and a 1-year high of $61.56.
Several brokerages recently issued reports on UFCS. ValuEngine downgraded United Fire Group from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. BidaskClub downgraded United Fire Group from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Finally, TheStreet downgraded United Fire Group from a “b” rating to a “c+” rating in a report on Thursday, February 21st.
In other news, Director Scott L. Carlton sold 649 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $47.71, for a total transaction of $30,963.79. Following the completion of the sale, the director now directly owns 83,642 shares in the company, valued at $3,990,559.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.66% of the stock is owned by company insiders.
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About United Fire Group
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, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners.
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