United Fire Group, Inc. (NASDAQ:UFCS) VP Neal R. Scharmer sold 3,041 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $48.88, for a total value of $148,644.08. Following the transaction, the vice president now directly owns 16,422 shares in the company, valued at approximately $802,707.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of UFCS opened at $48.30 on Monday. United Fire Group, Inc. has a 12-month low of $40.86 and a 12-month high of $61.56. The firm has a market cap of $1.22 billion, a PE ratio of 83.28 and a beta of -0.10.
United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Wednesday, May 8th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.38. United Fire Group had a return on equity of 1.63% and a net margin of 2.35%. The business had revenue of $332.25 million for the quarter.
A number of large investors have recently added to or reduced their stakes in the business. Mason Street Advisors LLC lifted its stake in United Fire Group by 3.6% in the first quarter. Mason Street Advisors LLC now owns 6,855 shares of the insurance provider’s stock valued at $300,000 after buying an additional 237 shares during the period. Piedmont Investment Advisors Inc. lifted its stake in United Fire Group by 5.7% in the first quarter. Piedmont Investment Advisors Inc. now owns 5,358 shares of the insurance provider’s stock valued at $234,000 after buying an additional 291 shares during the period. Bank of Montreal Can lifted its stake in United Fire Group by 56.0% in the first quarter. Bank of Montreal Can now owns 1,164 shares of the insurance provider’s stock valued at $50,000 after buying an additional 418 shares during the period. Texas Permanent School Fund lifted its stake in United Fire Group by 3.9% in the first quarter. Texas Permanent School Fund now owns 14,493 shares of the insurance provider’s stock valued at $633,000 after buying an additional 547 shares during the period. Finally, Citigroup Inc. lifted its stake in United Fire Group by 4.1% in the fourth quarter. Citigroup Inc. now owns 13,982 shares of the insurance provider’s stock valued at $776,000 after buying an additional 553 shares during the period. 62.25% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on UFCS. BidaskClub lowered United Fire Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. TheStreet raised United Fire Group from a “c+” rating to a “b-” rating in a research note on Wednesday, June 5th.
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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