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

Cwm LLC trimmed its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 58.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,218 shares of the insurance provider’s stock after selling 4,553 shares during the quarter. Cwm LLC’s holdings in United Fire Group were worth $65,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Invesco Ltd. increased its holdings in shares of United Fire Group by 4.5% during the third quarter. Invesco Ltd. now owns 373,607 shares of the insurance provider’s stock valued at $7,379,000 after purchasing an additional 16,134 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in United Fire Group by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,377 shares of the insurance provider’s stock valued at $6,643,000 after buying an additional 23,922 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in United Fire Group by 111.4% during the third quarter. Envestnet Asset Management Inc. now owns 178,041 shares of the insurance provider’s stock valued at $3,516,000 after buying an additional 93,810 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in United Fire Group by 134.3% during the third quarter. Assenagon Asset Management S.A. now owns 143,123 shares of the insurance provider’s stock valued at $2,827,000 after buying an additional 82,037 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in United Fire Group by 106.8% during the third quarter. GSA Capital Partners LLP now owns 35,048 shares of the insurance provider’s stock valued at $692,000 after buying an additional 18,097 shares in the last quarter. 62.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UFCS. Piper Sandler reaffirmed an “underweight” rating and set a $21.00 target price on shares of United Fire Group in a research note on Monday, April 1st. StockNews.com cut United Fire Group from a “buy” rating to a “hold” rating in a research note on Wednesday.

United Fire Group Trading Up 0.9 %

Shares of UFCS opened at $23.60 on Thursday. The business’s 50-day moving average price is $22.20 and its 200 day moving average price is $21.57. The stock has a market capitalization of $596.61 million, a P/E ratio of -20.00 and a beta of 0.34. United Fire Group, Inc. has a 1-year low of $18.41 and a 1-year high of $27.23.

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

United Fire Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid 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 2.71%. United Fire Group’s dividend payout ratio is currently -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 United Fire Group stock in a transaction dated Friday, March 15th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other United Fire Group news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction dated Friday, March 15th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Micah G. Woolstenhulme bought 1,500 shares of the stock in a transaction on Wednesday, March 13th. The shares were acquired at an average cost of $21.76 per share, for a total transaction of $32,640.00. Following the purchase, the vice president now owns 32,763 shares in the company, valued at $712,922.88. 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.