United Fire Group, Inc. (NASDAQ:UFCS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,976 shares of the insurance provider’s stock after selling 965 shares during the period. Envestnet Asset Management Inc. owned about 0.73% of United Fire Group worth $5,291,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of United Fire Group by 147.8% in the 3rd quarter. Barclays PLC now owns 44,380 shares of the insurance provider’s stock valued at $928,000 after buying an additional 26,469 shares during the period. State Street Corp grew its holdings in shares of United Fire Group by 2.2% during the third quarter. State Street Corp now owns 821,566 shares of the insurance provider’s stock valued at $17,195,000 after purchasing an additional 17,415 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of United Fire Group by 27.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,623 shares of the insurance provider’s stock worth $2,085,000 after purchasing an additional 21,352 shares during the period. Geode Capital Management LLC raised its position in shares of United Fire Group by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider’s stock worth $10,514,000 after purchasing an additional 2,925 shares during the period. Finally, HighTower Advisors LLC bought a new stake in shares of United Fire Group in the 3rd quarter worth approximately $256,000. 62.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UFCS has been the topic of several analyst reports. Jones Trading raised United Fire Group to a “strong-buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, March 5th. StockNews.com raised shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, Piper Sandler lifted their price objective on shares of United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th.

United Fire Group Price Performance

UFCS opened at $27.46 on Wednesday. The stock’s 50 day moving average price is $27.65 and its 200 day moving average price is $26.45. The stock has a market cap of $697.29 million, a P/E ratio of 11.54 and a beta of 0.33. United Fire Group, Inc. has a 12 month low of $18.04 and a 12 month high of $31.70.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. Equities analysts anticipate that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Friday, March 7th. United Fire Group’s dividend payout ratio is currently 26.89%.

Insider Activity

In other news, major shareholder Dee Ann Mcintyre sold 2,500 shares of United Fire Group stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $27.31, for a total transaction of $68,275.00. Following the transaction, the insider now directly owns 446,863 shares in the company, valued at approximately $12,203,828.53. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Noyce acquired 2,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $26.97 per share, with a total value of $53,940.00. Following the acquisition, the director now owns 27,316 shares of the company’s stock, valued at approximately $736,712.52. This trade represents a 7.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.99% of the company’s stock.

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.