New York State Teachers Retirement System Has $859,000 Stock Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

New York State Teachers Retirement System decreased its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 42,681 shares of the insurance provider’s stock after selling 1,647 shares during the period. New York State Teachers Retirement System’s holdings in United Fire Group were worth $859,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in United Fire Group by 185.8% during the third quarter. Tower Research Capital LLC TRC now owns 2,092 shares of the insurance provider’s stock worth $41,000 after buying an additional 1,360 shares during the last quarter. Captrust Financial Advisors raised its holdings in United Fire Group by 72.0% during the first quarter. Captrust Financial Advisors now owns 1,488 shares of the insurance provider’s stock worth $46,000 after buying an additional 623 shares during the last quarter. Quantbot Technologies LP acquired a new position in United Fire Group during the third quarter worth $67,000. UBS Group AG raised its holdings in United Fire Group by 34.5% during the third quarter. UBS Group AG now owns 3,182 shares of the insurance provider’s stock worth $91,000 after buying an additional 817 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in United Fire Group by 51.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,838 shares of the insurance provider’s stock worth $119,000 after buying an additional 1,302 shares during the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

Wall Street Analysts Forecast Growth

UFCS has been the topic of several research reports. Piper Sandler restated an “underweight” rating and set a $21.00 price objective on shares of United Fire Group in a report on Monday, April 1st. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 14th.

United Fire Group Price Performance

Shares of UFCS stock opened at $22.03 on Friday. The firm has a 50-day moving average of $22.44 and a 200-day moving average of $21.28. The company has a market cap of $556.92 million, a P/E ratio of -18.67 and a beta of 0.35. United Fire Group, Inc. has a one year low of $18.41 and a one year high of $27.72.

United Fire Group (NASDAQ:UFCS) last announced its earnings results on Tuesday, February 13th. The insurance provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. The company had revenue of $287.32 million during the quarter, compared to the consensus estimate of $278.70 million. United Fire Group had a negative net margin of 2.71% and a negative return on equity of 4.38%. As a group, research analysts expect that United Fire Group, Inc. will post 1.1 earnings per share for the current fiscal year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders 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 annualized dividend and a dividend yield of 2.91%. United Fire Group’s dividend payout ratio is currently -54.24%.

Insider Activity

In related news, VP Micah G. Woolstenhulme purchased 1,500 shares of United Fire Group stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $21.76 per share, for a total transaction of $32,640.00. Following the completion of the transaction, the vice president now owns 32,763 shares in the company, valued at $712,922.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Micah G. Woolstenhulme purchased 1,500 shares of United Fire Group stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $21.76 per share, for a total transaction of $32,640.00. Following the completion of the transaction, the vice president now owns 32,763 shares in the company, valued at $712,922.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $55,375.00. Following the transaction, the director now owns 454,363 shares of the company’s stock, valued at approximately $10,064,140.45. The disclosure for this sale can be found here. 5.99% of the stock is currently owned by corporate insiders.

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; 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.