United Fire Group, Inc. (NASDAQ:UFCS) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its stake in shares of United Fire Group, Inc. (NASDAQ:UFCSFree Report) by 51.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,092 shares of the insurance provider’s stock after selling 9,827 shares during the quarter. Citigroup Inc.’s holdings in United Fire Group were worth $180,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in United Fire Group by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,534,949 shares of the insurance provider’s stock worth $72,829,000 after purchasing an additional 40,135 shares during the period. Dimensional Fund Advisors LP grew its position in United Fire Group by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,722,555 shares of the insurance provider’s stock worth $45,733,000 after purchasing an additional 38,318 shares during the period. State Street Corp grew its position in United Fire Group by 1.6% during the 2nd quarter. State Street Corp now owns 799,049 shares of the insurance provider’s stock worth $27,351,000 after purchasing an additional 12,903 shares during the period. Bank of America Corp DE boosted its stake in shares of United Fire Group by 36.9% during the 1st quarter. Bank of America Corp DE now owns 498,987 shares of the insurance provider’s stock worth $15,503,000 after acquiring an additional 134,553 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of United Fire Group by 2.6% during the 2nd quarter. Geode Capital Management LLC now owns 441,304 shares of the insurance provider’s stock worth $10,000,000 after acquiring an additional 11,346 shares in the last quarter. 62.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th.

View Our Latest Stock Analysis on UFCS

United Fire Group Stock Down 0.4 %

UFCS stock opened at $21.77 on Friday. The firm has a market cap of $550.35 million, a P/E ratio of -18.45 and a beta of 0.36. United Fire Group, Inc. has a 52-week low of $18.41 and a 52-week high of $28.58. The company’s 50-day simple moving average is $22.62 and its 200-day simple moving average is $21.10.

United Fire Group (NASDAQ:UFCSGet Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The firm had revenue of $287.32 million for the quarter, compared to analyst estimates of $278.70 million. United Fire Group had a negative net margin of 2.71% and a negative return on equity of 4.38%. On average, analysts anticipate that United Fire Group, Inc. will post 1.1 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $0.16 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 2.94%. United Fire Group’s payout ratio is -54.24%.

Insider Buying and Selling at United Fire Group

In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.15, for a total value of $55,375.00. Following the completion of the sale, the director now owns 454,363 shares in the company, valued at approximately $10,064,140.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.15, for a total value of $55,375.00. Following the completion of the sale, the director now owns 454,363 shares in the company, valued at approximately $10,064,140.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Micah G. Woolstenhulme purchased 1,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $21.76 per share, with a total value of $32,640.00. Following the acquisition, the vice president now directly owns 32,763 shares in the company, valued at $712,922.88. The disclosure for this purchase can be found here. 7.54% of the stock is owned by insiders.

United Fire Group Profile

(Free Report)

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.

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

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