United Fire Group, Inc. (NASDAQ:UFCS) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS - Free Report) by 22.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,771 shares of the insurance provider's stock after selling 15,702 shares during the period. Teacher Retirement System of Texas owned about 0.21% of United Fire Group worth $1,501,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in UFCS. R Squared Ltd purchased a new stake in United Fire Group during the 4th quarter worth approximately $27,000. Point72 Asset Management L.P. grew its stake in shares of United Fire Group by 576.4% in the third quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider's stock worth $113,000 after acquiring an additional 4,611 shares in the last quarter. Globeflex Capital L P purchased a new stake in shares of United Fire Group during the fourth quarter worth $119,000. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of United Fire Group by 82.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider's stock valued at $144,000 after acquiring an additional 3,098 shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new position in United Fire Group in the fourth quarter valued at $203,000. Institutional investors and hedge funds own 62.68% of the company's stock.

United Fire Group Trading Down 0.3 %

NASDAQ:UFCS traded down $0.10 during trading hours on Wednesday, hitting $29.55. The company's stock had a trading volume of 85,170 shares, compared to its average volume of 124,312. The stock has a market capitalization of $750.01 million, a P/E ratio of 12.42 and a beta of 0.45. The stock has a fifty day moving average of $27.19 and a 200-day moving average of $25.81. United Fire Group, Inc. has a 52-week low of $18.04 and a 52-week high of $31.70.

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United Fire Group (NASDAQ:UFCS - Get Free Report) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.64. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. On average, sell-side analysts forecast that United Fire Group, Inc. will post 2.42 earnings per share for the current year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.16 per share. The ex-dividend date was Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 2.17%. United Fire Group's dividend payout ratio is presently 26.89%.

Analyst Ratings Changes

Several brokerages have weighed in on UFCS. Jones Trading upgraded United Fire Group to a "strong-buy" rating and set a $32.00 price target on the stock in a report on Wednesday, March 5th. StockNews.com raised United Fire Group from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Finally, Piper Sandler raised their target price on shares of United Fire Group from $26.00 to $28.00 and gave the company a "neutral" rating in a report on Thursday, February 13th.

Insider Activity

In other news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $28.33, for a total transaction of $70,825.00. Following the sale, the director now owns 441,863 shares in the company, valued at approximately $12,517,978.79. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Noyce purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $26.97 per share, for a total transaction of $53,940.00. Following the purchase, the director now directly owns 27,316 shares in the company, valued at $736,712.52. The trade was a 7.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.99% of the company's stock.

United Fire Group 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.